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9 Jan 2015
EUR/AUD bears stacking up
FXStreet (Guatemala) - EUR/AUD> is currently trading at 1.4523 with a high of 1.4535 and a low of 1.4511 up 0.01% on the day so far.
EUR/AUD remains in consolidation of the downtrend and pressures that are increasing in the Euro ahead of the next ECB meeting, 22nd January. QE is the measure that markets are pricing in by which Draghi hopes will manage and contain systemic risk in the economy, helping to spur growth while Europe fell into deflation earlier this week.
Meanwhile, the cross is harbouring a continued bearish outlook and moves lower are an extension of the downtrend set from the 1.5350's in December that capped the rally from as low as 1.4200 of late November. On balance, the Aussie is out performing while holding the bears at bay around the key 0.81 level and off the yearly lows at 0.8032, pressuring the cross to the downside with further prospects of a recovery in AUD/USD should bears continue to lack conviction in the Aussie.
EUR/AUD remains in consolidation of the downtrend and pressures that are increasing in the Euro ahead of the next ECB meeting, 22nd January. QE is the measure that markets are pricing in by which Draghi hopes will manage and contain systemic risk in the economy, helping to spur growth while Europe fell into deflation earlier this week.
Meanwhile, the cross is harbouring a continued bearish outlook and moves lower are an extension of the downtrend set from the 1.5350's in December that capped the rally from as low as 1.4200 of late November. On balance, the Aussie is out performing while holding the bears at bay around the key 0.81 level and off the yearly lows at 0.8032, pressuring the cross to the downside with further prospects of a recovery in AUD/USD should bears continue to lack conviction in the Aussie.