GET READY FOR SHORT
EURAUDThe correction that occurred in the Australian currency was caused by a decrease in the trade balance in that country, causing corrections in several Australian currency pairs such as, AUD/USD , GBP/AUD , EUR/AUD and so on.
Bearish potential still exists in the pair EUR/AUD
Need to be careful, the rising inflation rate in Europe due to the turmoil of war, made the ECB want to raise interest rates in order to reduce the impact of inflation. This could cause an upward correction for the Euro.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.