FX.co ★ EUR/AUD Buy Above 1.3000, December 07, 2011 (Monthly Strategy)

EUR/AUD

The Euro - Australian dollar pair collapses in an exceptionally incisive way during a period of more than two years and a half! This is one of the most aggressive major trends in the markets, certainly in the context of serial weakening outside the euro area following the debt crisis on the continent, and the good standing of the Australian economy as well as the large gap in interest rates, which was expanded in recent years for Australia.

What is very interesting to discover that the pair has moved in a range of 1.2900 to 1.4200 for all the great fall. We have good reason to believe that there is a possibility that such a correction would get started already in the short term, following the temporary solution and the relative calm on the problem of the European zone. It is assumed that even the smallest correction should push the pair towards the resistance of 1.5000 Australian dollars per euro.