EUR Trading Outlook (14-05-2014)

The AUD: Little data due for today, AUD moves should come from crosses. For now, range of 0.9330-0.9395 is still in play, a break of 0.9400 would lead to a retest of April high 0.9460.

EUR/USD: EUR broke below the 21-WMA, 100-DMA and daily cloud base to hit jsut below 1.3700 as Buba is open to ECB stimulus decision. The pair managed to lift itself for a short period due to miss on U.S retail sales, but dropped back down to 1.3689 as USD regained it strength. Germany and French inflation data due tomorrow, if it comes in weak then EUR may test key support of April low (1.3672), a break below would test 1.3475/80.