What does EURAUD mean for DAX?

FX:EURAUD   Euro / Australian Dollar
40 0 4
EURAUD             broke the lower range support we were previously buying from but is now looking to break the current downward channel . The lack of JPY participation in the current DAX             (and general equity) rally causes concern that these gains are unsustainable, EURAUD             position as risk on risk off indicator makes it a viable lead in where we can expect the DAX             could head after today's impressive performance.

Of course it's summer, so anything can happen...
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