The 1.30 area was the major support level, which was finally broken back on 12-20-11. The EUR/AUD has continued to decline as the Euro zone debt crisis continues. If you’re looking for a long-term carry trade this pair could play out well due to the attractive rolls. In 2011 when the FED announced QE2 the AUD/USD (long) would have played out to be a great carry position. If the Euro continues to decline be sure to watch this pair because European news can change market sentiment quickly.
