EUR/AUD: Trying to consolidate break above 1.2750
The AUD has taken a bit of a beating today after the Chinese data and there is more to come I suspect. EUR/AUD is the latest pair to showcase the Aussie weakness and its trying to consolidate a bullish break above 1.2750. I remain long of this pair but won’t add to the position until this break is well and truly confirmed.
Not much sign of a bounce in the AUD/USD so much will depend on what happens to the EUR/USD during European trade.