FXstreet.com (San Francisco) - EUR/AUD dipped to new lows this Tuesday in Asia following a better than expected decline in housing permits Down Under, which boosted the Australian dollar against its European counterpart.
The pair fell to as low as 1.1644, but encountered buying interest and last trades at 1.1665, around 10 pips below the close in New York. In the month ahead, according to Wells Fargo, “the negative correlation between EUR/AUD and equities argues for a retracement to 1.2050 or above.”
The pair fell to as low as 1.1644, but encountered buying interest and last trades at 1.1665, around 10 pips below the close in New York. In the month ahead, according to Wells Fargo, “the negative correlation between EUR/AUD and equities argues for a retracement to 1.2050 or above.”
