FxWirePro: EUR/AUD pares gains, slips below 50-DMA resistance post-ECB

• EUR/AUD pares gains, slips below 50-DMA which is major resistance.
   
• ECB left the interest rate on the main refinancing operations at 0.00%, the interest rate on the marginal lending facility and the deposit facility at 0.25% and -0.40%, respectively.
   
• The central bank extends QE to December but purchase pace reduced to €60 billion.
   
• EUR/AUD is struggling to break above 50-DMA currently at 1.4395.
   
• Technical studies are bullish, we see scope for test of 1.4575 on breakout above 50-DMA.
   
• We see weakness only on close below 20-DMA at 1.4314. Test of channel base at 1.40 then likely.
   
• Support levels - 1.4364 (5-DMA), 1.4314 (20-DMA), 1.4271 (Dec 2 low)
   
• Resistance levels - 1.4396 (50-DMA), 1.44, 1.4445 (23.6% Fib), 1.4489 (Nov 21 high
   

FxWirePro's Hourly EUR Spot Index was at 57.8352 (Neutral), while Hourly AUD Spot Index was at 46.1537 (Neutral) at 1300 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex