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Forex: EUR/AUD retreats from 1.3117 session highs

EUR/AUD is last around session lows at 1.3071, off session highs at 1.3117, touched two times already, and almost same price the cross ended previous week, down so far -0.27% for the day, mostly on the back of Euro weakness. Gold is printing fresh weekly highs above the $1670 handle.

Relatively bad Aussie domestic data in terms of building approvals down -4.4% for the month of December, while ANZ jobs ads also showed a decline for tenth consecutive month, this time by -0.9%, made the AUD/USD move wildly up and down always in the positive, last at 1.0428, about 20 pips higher from Friday's close. EUR/AUD is now around Friday's NY session lows post NFP.

Immediate support to the downside for EUR/AUD lies at mentioned Friday's NY session lows 1.3056, followed by Jan 30 lows at 1.3042, and Thursday's lows at 1.2989. To the upside, closest resistance shows at recent session highs 1.3117, followed by Friday's fresh 13-month highs at 1.3189, and Dec 2011 highs at 1.3231.

Forex Flash: RBA may refrain from rate cuts tomorrow - RBS

According to RBS strategist Drew Brick, "with the direction of global growth currently still in the “balance”, as the RBA might say, the central bank may well refrain from rate cuts for now."
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Forex: EUR/USD on track to 1.3800 - TDS

With currently EUR/USD at fresh session lows 1.3624, TD Securities Toronto based FX Research Team believes that: “The sustained push through short term resistance at 1.3402 (bull flag neckline trigger) keeps EUR/USD on track for a move to 1.3800,” the analysts say, adding: “With short, medium and long-term trend momentum indicators still bullishly aligned, we think there is still quite a bit more to come in this move up."
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