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EUR/AUD Bounces Up Off of the Lows

EUR/AUD Bounces Up Off of the Lows

Thomas Long, Course Instructor

The AUD has been experiencing some weakness due to the flooding situation in Australia, however the EUR has been even weaker. This daily chart of the EUR/AUD shows a market that is still in a downtrend based on the series of lower highs and lower lows. I would still maintain a bearish bias and continue to look for sells as long as the pair remains below the 1.35114 high noted on the chart.

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