EUR/AUD bulls taking on the topside

FXStreet (Guatemala) – EUR/AUD is currently trading at 1.4117 with a high of 1.4128 and a low of 1.4076.

EUR/AUD is on the path to recovery from the recent downtrend from the 1.42 handle. From the data, Australia showed the business sector in a poor light, with the NAB Monthly Business Survey out. The NAB Monthly Business Survey for the month of February this year gave us business confidence dropping from 3 to 0. The business conditions unchanged at 2. This signals that the RBA probably have not have done enough to encourage growth in the sector and arms bears with ammunition to continue selling the currency. Then, we had the Chinese inflationary numbers that actually came in higher than expectations.

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