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29 Dec 2014
EUR/AUD pressured to the downside on euro supply
FXStreet (Guatemala) - EUR/AUD is trading at 1.4940, up 0.01% on the day, having posted a daily high at 1.4944 and low at 1.4934.
EUR/AUD has followed suit across the board with the euro making fresh 2-year lows vs the greenback. The cross has made a two and a half week low and adds further closes below the recent sideways channel formed in consolidation of this months losses from 1.5330 when supply ended late November’s bill run from the low 1.42 territories.
Should the EUR/USD cross boundaries, targeting the July 2012 low 1.2042, it will weigh on the cross further with bears first target being 1.4850.
EUR/AUD has followed suit across the board with the euro making fresh 2-year lows vs the greenback. The cross has made a two and a half week low and adds further closes below the recent sideways channel formed in consolidation of this months losses from 1.5330 when supply ended late November’s bill run from the low 1.42 territories.
Should the EUR/USD cross boundaries, targeting the July 2012 low 1.2042, it will weigh on the cross further with bears first target being 1.4850.