EURAUD Ready To Go Higher?

EURO - Weak Bullish
1️⃣ Major economic data in Eurozone printed higher than previously.
2️⃣ Eurozone industrial production rebound in July.

AUD - Strong Bearish
1️⃣ Risk-off sentiment in the market led to sales in high-beta currencies such as the AUD.
2️⃣ The RBA voiced concern over economic growth in the 3rd quarter as a result of the COVID-19 outbreak in Australia.
3️⃣ Governor Lowe says that that the RBA will not raise its interest rates at least until 2024.
4️⃣ The AUD was also weighed down by weak economic data from China on Wednesday.

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Technical
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We are looking to buy EURAUD if the market sentiment is unchanged.

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Risk to this trade
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Any change in sentiment could turn the pair's direction.

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