Euro/Australian Dollar (EUR/AUD) Exchange Rate
EUR/AUD Pivot Points
EUR/AUD Latest Updates
Australia is rumored to announce the third stimulus as soon as this week.
After the European Central Bank (ECB) surprised financial markets by keeping interest rates unchanged, the Euro received a bullish fundamental catalyst.
Germany is leading bearish Eurozone economic output, providing evidence monthly that the global economy remains fragile.
Australian producer prices eased in the fourth quarter of 2019, reflecting a slowing global economy.
Better than expected economic data out of China this morning provided a boost to the Australian Dollar, the leading Chinese Yuan proxy currency.
After entering a sideways trend inside its support zone, the EUR/AUD managed a breakout.
Downside pressure on the EUR/AUD is temporarily easing. This paused the breakdown sequence, which took it from its long-term resistance zone
Following the rejection in the EUR/AUD by its resistance zone as well as its ascending 61.8 Fibonacci Retracement Fan Retracement Level, more downside is likely to follow.
Bullish momentum in the EUR/AUD is fading and more downside is expected to follow.
Bullish momentum is fading after the EUR/AUD reached its short-term resistance zone.
A disappointing Australian employment report that showed unexpected job losses has pushed the Australian Dollar to the downside.
After the European Commission lowered its growth forecast for 2019 and 2020 and the IMF issued a warning on the European economy as a whole, the Euro was faced with an accelerated sell-off.
Economic data out of Australia showed that its manufacturing sector barely escaped contraction while inflation slowed down in the third-quarter.
Downside pressure has increased following yesterday’s ECB announcement which was the last one under Draghi who will leave the central bank,
Forex traders grew more bullish on the Euro after the ECB cuts its deposit facility rate to -0.50% and announced the re-start of quantitative easing on November 1st 2019 at a rate of €20 billion per month.
The EUR/AUD has completed a breakout above its support zone which is located between 1.59054 and 1.6012, marked by the grey rectangle in the chart.
The Euro initially fell against the Australian dollar on Wednesday, but we bounced off of the 1.45 level below.
The Aussie Dollar took the lead among the major currencies after the Reserve Bank of Australia left interest rates unchanged.
Traders tend to focus on the here and now of price movements, watching a range of currency pairs and picking whichever ones look most active or technically interesting to trade.
The Aussie Dollar lost more ground against the U.S. Dollar during Tuesday’s trading session in London, moving closer to a 4-year trough that had been struck earlier this year.