Since breaking the big support level (much quicker than i expected) noted in the previous post for eur/aud, price has continued going lower in a corrective way. The downtrend probably comes from the difference in interest rates, away from the euro and into the more profitable australian dollar. That being said, it does not mean that there can't be technical countertrend rallies like the one i'm looking for now.
Monday, January 23, 2012
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