UEUR - EUR/AUD Weakness Prevails But A New Trend May Begin To Emerge

The EUR/AUD currency pair, which expresses the value of the euro in terms of the Australian dollar, has fallen significantly from its recent highs of almost 2.00 in March 2020. The euro drifted downward fairly quickly from its high against the Australian dollar, finding its way back to its previous trading range between 1.60 and 1.65 by June. Since June, EUR/AUD has remained range-bound in this area (as illustrated in the daily candlestick chart below).

(Source: Barchart.com)

When markets trade in ranges for longer periods, we can assume that these markets are fairly

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