EUR/AUD recovers from 4-month lows

FXStreet (Córdoba) - The euro is recovering again the aussie after falling sharply during the previous two trading days. The Australian dollar is among the worst performers on monday weakened by a sharp decline in Chinese stocks.

The EUR/AUD broke above 1.4100 and climbed to 1.4160, reaching a fresh daily highs. Price helds near daily highs moving with an upside bias in the short term.

EUR/AUD rebounds at 1.4000

On Friday the pair lost almost 200 pips, extending the decline from 1.4500 but found support around the 1.4000 area. After hitting a 4-month low at 1.4004 rebounded to the upside and today is trimming a part of last week losses.