Throughout the week while EUR/USD has traded sideways, EUR crosses have remained under pressure as investors prefer buying the likes of AUD, NZD, and GBP against the EUR. On long term charts EUR/NZD is maintaining its bear trend that began in 2009; the recent print of new lows for the year suggests that this trend is ongoing. Similarly, EUR/AUD also faces downside risk. It is not just certain currencies that are benefiting at the expense of a weaker EUR, gold is also holding onto recent gains and gap support when priced in EUR.
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Barclays