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EURAUD shows potential to pop higher
After today's inflation data we noted the subdued bullish reaction from AUD bulls and now on guard for bears to take back control. As we await post-Brexit data from Europe this week, we suspect only mediocre data from the area is required to send EURAUD higher. When we look at the currency matrix, a cursory glance reveals similarity of relative strength between the EUR and AUD currencies over multiple timframes. This is part of the reason that we are only bullish on the near-term and not looking for a miraculous recovery, as price action on EURAUD is providing large oscillations and sideways trading on higher ... (full story)
