EUR/AUD extending consolidation above 1.4800

FXstreet.com (Barcelona) – The EUR/AUD foreign exchange cross rate is last trading at 1.4809, off early NY session lows at 1.4758, little changed for the week so far, inside a tight trading range 1.4855/1.4758.

EUR/AUD tight ranges likely to stay

According to the IFRMarkets analysts the tight ranges are likely to extend, given the conflicting signals momentum studies are showing. “Scenario is usually a signal for further consolidation,” IFRMarkets said. The cross has been flat at current quote since August started, dipping to as low as 1.4450 from August 12 to August 19. No major news on schedule until later on …read more