Forex: EUR/AUD loses 60 pips and trading at 1.6026

15 November 2009 @ 11:21 pm EDT

FXstreet.com (Sydney) - The EUR gained on the Aussie and is now trading at 1.6026. After opening at 1.5976, lower than last week's close, the EUR posted an intraday high of 1.6040 before settling to current levels. There are downward tendencies on the pair and it finds support at 1.6000 and resistance at 1.6210. The EUR/AUD has lost to date 60 pips.

Support for the EUR was sparked after a report showed Europe exiting the recession in the September quarter. Nevertheless, Germany, Europe's largest economy will not be at pre crash levels for at least 2-years.

In Australia the dollar was in a subdued mood as the markets waited on signs from the RBA on the future pace of interest rate rises.

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Copyright 2008 FOREXSTREET S.L, All rights reserved

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