FXstreet.com (Córdoba) - The Euro lost ground against the
Australian dollar on Monday. The pair opened the month trading at
1.4456 but experienced a sharply fall and dropped more than 200
pips so far. Euro remains under a lot of pressure over the Greek
debt issues and the fear of contagion in the Euro-zone.
The rally of the AUD against the Euro has eased down a few hours
ago where EUR/AUD found support at the 1.4230 area. Since then, the
pair has been quoting in a range between 1.4225 and 1.4265.
Currently EUR/AUD is trading at 1.4237, 0.44% below its opening
price. The Australian dollar is quietly trading as the RBA Interest
Rate Decision approaches. Expectations are around a 25 bps hike in
the OCR to 4.5%.