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11 Feb 2014
EUR/AUD turns to the downside after economic data from Australia
FXStreet (Córdoba) - The EUR/AUD tumbled from 1.5245 to 1.5165 in a few minutes following the release of economic data in Australia. Business confidence rose in January while the house price index climbed 3.4% above expectations during the fourth quarter.
The Aussie gained momentum across the board after the new numbers reaching fresh highs. The EUR/AUD recently bottomed at 1.5165, hitting the lowest price since last Friday.
End of correction?
Since last Thursday the EUR/AUD was moving with an upside bias recovering after falling constantly during the previous two weeks. The upside correction has proven to be short-lived as the pair approaches 1.5100. Below, the next key support is the area located between 1.5000 and 1.5025 where January and February lows lie.
The Aussie gained momentum across the board after the new numbers reaching fresh highs. The EUR/AUD recently bottomed at 1.5165, hitting the lowest price since last Friday.
End of correction?
Since last Thursday the EUR/AUD was moving with an upside bias recovering after falling constantly during the previous two weeks. The upside correction has proven to be short-lived as the pair approaches 1.5100. Below, the next key support is the area located between 1.5000 and 1.5025 where January and February lows lie.