EUR/AUD breaks below 1.5000

FXStreet (Córdoba) - The EUR/AUD broke the support area around 1.5000 and fell to 1.4914 reaching the lowest price since December 5. Afterwards rebounded and trimmed losses, but the upside was capped below 1.4970.

The Euro posted the lowest daily close in three months against the Aussie and ended showing signs of weakness after being unable to hold or rise back above 1.5000.

The decline of Wednesday was the fifth daily loss in a row. From March 12 highs the EUR/AUD lost 600 pips, turning the outlook bearish, after breaking important uptrend lines and support levels.