FXstreet.com (Sydney) - The EUR continued to rise against the AUD and is trading at 1.6225. The pair had earlier opened at 1.6244 and posted an intraday low of 1.6195 before recovering. There is support for the pair at 1.5960 and resistance is at 1.6500. The likely trend is sideways.

The AUD lost ground in line with commodity markets around the globe. This was sparked by a return of risk aversion allowing the dollar to rebound at the expense of high yielding currencies such as the AUD.