New Zealand July Business NZ PMI improves to 59.5 vs 54.7

Aug 15, 2013

EUR/AUD snaps back up to 1.4530; solid 1.4450/70 support

EUR/AUD maintains an upward trend from a daily perspective despite the series of downside corrective swings from last week, which have been followed by tepid price action, as price keeps bouncing off 1.4450/70 support ahead of consumer inflation expectation data in Australia at 1GMT.

EUR/AUD hugging lower edge of what may be a short-term trading range at 1.4525

After months of nearly unabated upside, the EUR/AUD has pulled sharply back off the 8/5 highs at 1.4933. This move lower may nearly be over and a bounce back up to near the highs should be next up for the cross.