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