5 Feb 2014
EUR/AUD suffers worst day since 2011
FXStreet (Córdoba) - The EUR/AUD fell almost 300 pips on Tuesday, posting the worst daily decline since May 2011. The Aussie strengthened after the RBA statement during yesterday’s Asian session and continued with momentum the rest of the day.
As the AUD/USD soared the EUR/USD remained flat, favoring EUR/AUD downside. The pair bottomed at 1.5111 during the American session and bounce to finish the day around 1.5140, 295 pips below the price it opened on Tuesday.
EUR/AUD major correction
The EUR/AUD continues to move with an upside bias in the long-term perspective, as it has been the case since March of last year.After finding resistance at 1.5000 in August the pair made a correction, falling to 1.4000 from where it resumed the upside. Two weeks ago peaked at 1.5834 and reversed, starting the second major correction in almost a year. So far, from 2014 highs, it has fallen 700 pips.
As the AUD/USD soared the EUR/USD remained flat, favoring EUR/AUD downside. The pair bottomed at 1.5111 during the American session and bounce to finish the day around 1.5140, 295 pips below the price it opened on Tuesday.
EUR/AUD major correction
The EUR/AUD continues to move with an upside bias in the long-term perspective, as it has been the case since March of last year.After finding resistance at 1.5000 in August the pair made a correction, falling to 1.4000 from where it resumed the upside. Two weeks ago peaked at 1.5834 and reversed, starting the second major correction in almost a year. So far, from 2014 highs, it has fallen 700 pips.