Technicals | Sep 07 2010
By Rudi Filapek-Vandyck
The TechWizard reports EUR/AUD has returned at the crucial level of 1.3980/50.
The Wizard believes the euro is more likely to weaken against the Aussie. As such, he's anticipating a break down for the European currency at some stage, but what will cause it?
The Wizard thinks the catalyst might come in the form of slowing momentum starting to be reflected in economic data in Europe. It is thus his view it is only a matter of time before we will witness a much stronger Aussie dollar against a weakening euro.
The TechWizard is the pseudonym of Scott Morrison, whose experience in financial markets exceeds twenty years. Morrison operates his own website nowadays at www.techwizard.com.au The views expressed above are the Wizard's, not FNArena's.
