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The European currency began its recovery. And it rose quite high against many world currencies. What can not be said about the euro / Australian dollar currency pair. But you need to understand that the Australian dollar plays the main role here, which is currently very overbought in relation to many currencies. In this he was facilitated by a more stable situation with the epidemic in the country. The corona virus did not cause much damage to Australia, which helped strengthen the country's national currency. Now the pair Euro / Australian dollar has reached the bottom and buried in the support line. Recently, it has been showing a flat movement and cannot break through the lower level in any way. In such a situation, a trend reversal can most likely be expected. Moreover, quarantine restrictions in Europe are beginning to be lifted and the economy is beginning to recover, which will help strengthen the European currency.
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