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Forex: EUR/AUD hits 2-month low at 1.4115

By FXstreet.com,  August 29, 2010, 07:24:00 PM EDT

FXstreet.com (Barcelona) - The Australian Dollar extended its rally further against the Euro on Monday, breaking 1.4137 (Aug 23 low) to post a fresh 2-month low at 1.4115. The downmove complements an aggressive fall from 1.4340 seen last Friday, which catapulted the Aussie almost 200 pips on improved risk appetite.

After the Aussie battled for two weeks an escape out of the range-bound 1.4400-1.4180/00, the pair finally managed to get a weekly close below the range, near 1.4150 after late Friday trading came plagued with a strong conviction to support risky assets. We are presently at 1.4143, a 0.18% lower than its previous close.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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