EUR/AUD has broken through the Sept 10 low as the retracement phase gathers momentum.
Sell stops exaggerated the move through 1.25 but there isn’t much to support this pair until the 200-day moving average at 1.2409. The coincides with a cluster of support around the late Sept lows and the 38.2% retracement.
The Nov 6 RBA decision is turning into a cliff hanger with the market pricing a 44% chance of a cut.
