While Euro looks weak in some crosses, most are still bounded in very tight range, except EUR/AUD, which breaks through 1.5456 temporary. It remains to be seen if that’s a signal of more broad based selling in Euro, or buying in Aussie.
EUR/AUD breaks to the downside today as fall from 1.6434 resumes. Next focus is 161.8% projection of 1.6434 to 1.5907 from 1.6232 at 1.5379. Sustained trading there would pave the way back to retest 1.5250. low.
At the same time, attention will also be on 1.4317 temporary low in EUR/CAD. Firm break there will resume larger down trend towards 100% projection of 1.5783 to 1.4580 from 1.5096 at 1.3839.
Meanwhile, break of 0.8420 temporary low in EUR/GBP will resume the medium term down trend towards 0.8276 key support next.
