EURAUD is choppy but continues flat following Aussie jobs data miss. Traders of the pair should stay updated on the 15 February EURAUD Technical Outlook.
15 February, GKFX – EUR/AUD has traded in a congested zone for eight straight trading days, and today is shaping up to be no exception, with the pair trading into yesterday’s low of 1.5690.
With the Aussie suffering at the hands of middling economic growth and disappointing jobs data from Australia, and the Euro on spongier territory with risk appetite subdued throughout markets on the back of increasing inflation from the US, EUR/AUD is unlikely to develop legs in either direction until the fundamental situation within either currency’s respective nation begins to shift moving forward.
RBA Gov talks
Eyes will be on the RBA’s Governor Lower, due to give a speech at 22:30 GMT today, where traders can expect to get the RBA’s reaction to the disappointing employment data that saw Australia shed fifty thousand full-time jobs in January.
15 February EURAUD Technical Outlook
The pair is currently caught in a messy-but-holding sideways channel from 1.5778 to 1.5638, while on Daily candles the pair is notably on the high side, consolidating near the top where a decisive break above 1.5770 will see the pair trading at two-year highs.
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