FXStreet (Guatemala) – EUR/AUD is currently trading at 1.4677 with a high of 1.4687 and a low of 1.4660.
Greece looking positive, no news is good news
EUR/AUD had dropped back in the US session post a strong rally from European markets that latched on to hopes of a Greek deal this week, with the press reporting on every detail that could be grasped from early negotiations this week as we fast approach the 30th June deadline set by the IMF for Athens to come up with a proposal that could be accepted by the EU. However, there is sentiment that a deal will be now reached this week on new proposals that are in from Greece that are yet to be disclosed in to the public domain.
1.4731 capped the rally and supply took the cross down aggressively at first to test 1.4680 bids that gave way stubbornly to the downside that drifted in to current price range between aforementioned lows and current level.
Technically, the cross remains with a bullish bias above 1.4650/80 with 1.4450 being the key support guarding 1.4380. A big figure higher takes us to June highs of which a break would be very bullish.
(Market News Provided by FXstreet)