by Tue, 06 Apr 2010 07:13:00 +0200
EUR/AUD plummets after RBA rates rise
FXstreet.com (Sydney) – The EUR is losing heavily against the AUD and is trading at 1.4554. The pair maintains downwards tendencies in the hourly charts. The EUR/AUD opened at 1.4636 and set an intraday high of 1.4665. The pair finds support at 1.4568 and resistance at 1.4710.
The EUR/AUD has plummeted to historic lows against the Aussie after the RBA decision to lift rates today by 0.25% to 4.25%. The latest rise will add $45 to the monthly repayments of a $300,000 mortgage. This latest rise comes on the back of an increase in job ads as reported by the ANZ bank. Rising demand for workers is an indication that the economy is continuing to gather strength despite a series of recent negative reports such as a fall in retail sales.
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