EUR/AUD: support still intact at 1.4870

This level will give us a good indication as to which of EUR/JPY or AUD/JPY are likely to move the fastest. If EUR/AUD breaks below 1.4870 then the next support levels are around 1.4600. This could give the AUD further topside impetus. If this 38.2% support level holds again, that would be further verification of the AUD’s weak state and we can become more comfortable about the levels where we sell the AUD. Another part of the big jigsaw puzzle that is the FX market.