This is the Forex quote for the Euro versus the Australian Dollar. In this quote, the value of one Euro ('base currency') is quoted in terms of the Australian Dollar ('counter currency'). EUR/AUD reached its lows in the midst of the European sovereign debt crisis in 2012, when it hit A$1.1619. Since mid-July 2012, the pair has recovered mainly due to the European Central Bank's policy of Outright Monetary Transactions (OMT), the 'whatever it takes' measure that ECB President Draghi threatened in August 2012.
AUD/USD and EUR/AUD May Be at Turning Points, Facing Trend Lines
The Australian Dollar may be at a turning point against the US Dollar and Euro. AUD/USD uptrend eyeing rising channel support as EUR/AUD may enter downtrend, 2017 trend line eyed.
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AUD/USD and EUR/AUD May Be at Turning Points, Facing Trend Lines
by Christopher Vecchio, CFA and Ilya Spivak
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