EUR/AUD declines further on Australian CPI

FXstreet.com (Córdoba) - The EUR/AUD finished Wednesday at 1.5300 with a decline of a hundred pips, retreating further after finding resistance at 1.5500 last week. The Aussie was among the best performers yesterday supported by inflation data from Australia.

During Wednesday the pair moved in an important range. During the Asian session peaked at 1.5425 but plummeted afterwards and bottomed on European hours at 1.5336, reaching the same price level it had before the release of the Australian employment report last week. On the second half of the day, the Aussie lost upside momentum, favoring a bounce in the EUR/AUD, that rose back toward 1.5300.

Ahead of more inflation data from Australia, the EUR/AUD is trading at 1.5305, 0.03% lower for the day so far.