The euro is likely to remain under pressure against the Australian dollar, continuing in the near future to fall to 1.3560, and possibly 1.3460, despite the correction of the pair more than 2% from a peak reached at the end of the session on Thursday. At this point the technical charts.On Thursday the European Central Bank / ECB / left unchanged the key interest rate unchanged at 1.25%. The tone of the speech of President Trichet of the central bank was less stringent than expected, and in his speech, he did not even mention "close observation" on inflation, thus lowering expectations for interest rate increase in June. That pushed the euro to a free fall.
Conversely, in the quarterly statement, the Reserve Bank of Australia monetary policy on Friday said the likelihood of increasing interest rates "at some point, because the investment in the mining sector reduce unemployment and accelerate inflation. The Bank raised its December forecast of core inflation to its highest level of the target range of 3.00% to 2.75%.
The Australian dollar, which, following the collapse of prices for precious metals and oil, from the beginning of the week fell against the U.S. dollar by more than 4%, may soon get support. As at 03.15 GMT on a pair of the Australian dollar / US dollar was trading at 1.0715.
A pair of Australian dollar / US dollar on an 8-hour schedule is as prone to a slight increase against the background of growth with oversold stochastics. Similar dynamics in the graphs show the silver and gold, which could push the Australian dollar up.
Nevertheless, the euro / Australian dollar on the 8-hour schedule is as prone to fall amid falling with the stochastics overbought. The couple who on Thursday for a short time grew to 6-week high of 1.3930 is likely to fall below the moving average 100 days, which is now located at 1.3560, before falling to 1.3460 will continue, the level of Fibonacci retracement for 61.8% of wave growth from December 29, 2010. As at 05.15 GMT, the euro / Australian dollar was trading at 1.3600.
