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EUR/AUD Remains Weak

EUR/AUD Remains Weak

Thomas Long, Course Instructor

The EUR/AUD remains in a strong downtrend. This daily chart shows the series of lower highs and lower lows which identifies the trend as down. I would continue to look for sells as long as the pair remained below the 1.35515 level noted on the chart. A move up through that price would not constitute a trend change but rather just reason to adopt a wait and see attitude.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.