The single European currency has been trading sideways against the Australian Dollar since June 15. The currency pair was trading between the 1.6422/1.6226 area during the past two weeks.
Everything being equal, the exchange rate could continue to trade sideways within this week’s trading sessions. The EUR/AUD pair could target the 1.6226 area in the shorter term.
However, technical indicators suggest that the currency exchange rate could edge higher during the following trading sessions.
