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Forex Flash: EUR/AUD should resume uptrend toward year highs - NAB

By FXstreet.com,  September 23, 2012, 05:55:00 PM EDT

FXstreet.com (Barcelona) - NAB does expect the previous uptrend in the EUR/AUD rate to resume in due course and indeed "continue to forecast the rate testing and breaking above its year lows of around 1.3025 before 2012 is out." For the coming fortnight, "Spain agreeing a package of structural reforms and fresh budget measures by Friday, should be EUR positive, helping EUR/USD firm up above 1.3000, which would likely provide a layer of support under AUD/USD in the process" NAB notes.




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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