EUR/AUD posts fourth consecutive daily gain

FXstreet.com (Córdoba) - The EUR/AUD rose on Thursday on the back of a weak Aussie, amid ECB decision to leave rates unchanged and Draghi's dovish comments. Before the press conference in Europe, the pair peaked at 1.5353, reaching a 4-day high, but afterwards pulled back finding support at 1.5230. During New York trading the Euro recover momentum and pushed the EUR/AUD back above 1.5300.

After ending Thursday at 1.5289, currently trades at 1.5297 up 0.07% for the day, ahead of Tokyo opening and Chinese trade data.

EUR/AUD upside bias

After plunging last week from 1.5550 to 1.5110, the Euro is headed toward a modest weekly gain, but holds a bullish bias in the short-term as the EUR/AUD continues to make higher highs, supported by a rising trendline that could offer support in the coming hours around 1.5250.