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EUR/AUD consolidates the downward pressures

FXStreet (Guatemala) - EUR/AUD is trading at 1.4451, up 0.02% on the day, having posted a daily high at 1.4483 and low at 1.4440.

EUR/AUD, give the ECB, has lost a great deal of ground over the last sessions overnight while today, the RBA through in its quarterly statement into the mix and we have seen some volatility here. However, the pair is based here around the mid point of the handle having slid over 100 pips and consolidates.

In the RBA’s quarterly monetary policy statement where the central bank, as expected, continues to state that the most prudent course is a period of rates stability, they also said in respect to AUD that is it is still above estimates of fundamental value, a further fall would help rebalance economy and that low rates.

EUR/AUD noteworthy levels

With spot trading at 1.4453, we can see next resistance ahead at 1.4478 (Hourly 20 EMA), 1.4483 (Daily High), 1.4491 (Daily Classic PP), 1.4526 (Weekly High) and 1.4531 (Weekly Classic R2). Support below can be found at 1.4451 (Daily Open), 1.4440 (Daily Low), 1.4430 (Yesterday's Low), 1.4417 (Daily 20 SMA) and 1.4411 (Hourly 100 SMA).

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