EUR/AUD jumps from 1.5300 to 1.5475, losses momentum ahead of RBA

FXStreet (Córdoba) - Tue Euro was able to finish Monday with gains versus the aussie after soaring during the American session. The EUR/AUD weakened after breaking below 1.5360 (last week lows) and bottomed at 1.5301, the lowest price level since January 23. But the Euro rebounded strongly around 1.5300 and jumped, rising more than 150 pips.

The price finished Monday, hovering around 1.5450, with a gain of 70 pips. Early in Asia climbed to 1.5484, fresh daily high, but lost momentum and ahead of the RBA decision is moving to the downside approaching 1.5400.

Despite the rally from 1.5300 the EUR/AUD continues to move with a downside bias in the short-term, making lower lows and lower highs. A break above 1.5500, where an short-term downside trendline stands, could give bullish momentum to the Euro.