Dear Trader,

Economic data releases have a high impact on the markets so staying up-to-date on the latest news can have a positive impact on your trading results.

Latest Forex Trend Report - EUR/AUD Reaches 9-Month High

+ What's Trending: EUR/AUD trades at 1.531 levels, up 0.70% on the day

+ Headline: The single currency (Euro) advanced strongly against the Australian dollar after better data was released from the Euro zone yesterday that supported the Euro. Currently, the EUR/AUD trades at 1.531 levels, up 0.70% on the day. Since the start of December, the pair has risen from 1.46130 to today's high. EUR/AUD pair has gained largely due to sharp losses in the AUD/USD pair, which took the pair down to lowest levels since May 2010. The Euro is expected to remain supported against the Australian dollar due to no major economic releases during the European session.

+ Projection after Analysis: The pair has immediate resistance at 1.54 levels, above which gains could be extended to 1.5491 (Feb 2014) levels. Support is seen at 1.5243 (10-day SMA), below which it could extend losses to 1.5223.

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Wishing you successful investing

George Miller
Yadix Auto-Trading Team