EUR/AUD reverses lower after initial post-data rally early Wednesday

FXstreet.com (Barcelona) - EUR/AUD traders have taken the cross back to the downside after rallying initially following the weaker-than-expected Australian Consumer Confidence data.

EUR/AUD traders to react to European data

EUR/AUD traders will need to react to the ECB Monthly Report and German Industrial Production in the hours to come on Wednesday.

Technical outlook for EUR/AUD

Technicians say the EUR/AUD is in “no-man’s land” between support at 1.4309 and resistance at 1.4546. There’s likely a sizable move coming once a break above resistance or below support occurs.