EUR/AUD Bearish Breakdown Supported by Additional China Fiscal Stimulus and AU Inflation

Weak PMI readings from the Eurozone, an increase in China’s budget deficit ratio, and renewed inflationary pressures in Australia may trigger a persistent bearish sentiment loop in EUR/AUD. Watch the key short-term resistance at 1.6700 for EUR/AUD. A break below 1.6250 key medium-term support on the EUR/AUD may trigger a multi-week bearish impulsive down move. […]

The post EUR/AUD Bearish Breakdown Supported by Additional China Fiscal Stimulus and AU Inflation appeared first on Action Forex.