EUR/AUD extends downside correction

FXStreet (Córdoba) - The EUR/AUD started the week moving to the downside, extending the correction after reaching last week a 1-month high at 1.5534. At the beginning of Monday the Euro rose to test Friday’s highs but failed to break 1.5430 and fell breaking below last week lows.

After bottoming at 1.5280, 1-week low, the EUR/AUD rebounded and managed to close the day above 1.5300, but 70 pips below Friday’s closing price.

Early in Asia trades at 1.5328/30, up 0.07% so far; moving slightly to the upside, ahead of the RBA minutes.