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EUR/AUD down hard after test of resistance Wednesday and bullish Aussie Capex Thursday

FXstreet.com (Barcelona) – EUR/AUD came into Wednesday overbought and nearing resistance at 1.4955. That resistance was tested (and it held) and was followed up early Thursday with some bullish capex data out of Australia.

EUR/AUD traders reacting to bullish Aussie data and readying for European data later

Aussie Private Sector Capital Expenditures came out at a surprising 3.6% versus the previous month’s reading of 1.6%. The news gave EUR/AUD traders an excuse to stop ramping the cross higher relentlessly for the time being. Later in the session, traders will need to react to German Unemployment, EuroZone …read more