AUD -EUR trading outlook april 6 2012

Indonesia stock info- AUD -EUR trading outlook april 6 2012 : The cross EUR/AUD is last at 1.2673 in the lower bound of the bearish flag has been building for the past hours once stalled the dive started by yesterday's Asian trade open when above 1.2800. The cross is down by -0.97% since then, with only Japanese market open since Aussie one is closed on holiday and Europeans are still sleeping. EUR/AUD printed a fresh 8-day low Thursday at 1.2660.

According to AKFinancials LTD: "Eur.Aud is currently retracing towards resistance levels with R1 around 1.2700 and R around 1.2750. Similar story here, if resistance levels hold I will be looking to short the market," the analyst says.

For the immediate term support to the downside show at recent 8-day lows 1.2660, followed by March 23 low/Feb 27 highs 1.2620/30 and March 01 high 1.2545. For the upside, resistance show at 1.2700 as recent session highs, followed by April 03 lows 1.2742, and April 02 low 1.2760.

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