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Ready for a Breakout?: EUR/AUD
Next week the ECB meets, and economists feel they will likely keep stimulus “unchanged” while they wait for staff projections at the December meeting. Meanwhile, the RBA recently suggested that they are ready to buy longer term bonds and provide more QE now. What does this potentially mean for EUR/AUD? The pair has been trading in a sideway channel since early June between 1.6033 and 1.6592, as it had pulled back from the overbought levels after the coronavirus outbreak In March. However, on Monday, the pair broke out and closed about the channel and right at the 200 Day Moving Average near 1.6635. The pair ... (full story)
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