It’s quite a rarity to see a pair trade at levels last seen in 2000. EUR/AUD has this honor. The breach of a technical barrier reflects the fundamentals perfectly. EUR/AUD is now trading at 1.5268 bouncing off the a bottom of 1.5188 earlier. These numbers don’t mean too much as this isn’t a popular cross. EUR/USD is the world’s most popular and AUD/USD is gaining traction in recent years. EUR/AUD? Yes. EUR/AUD isn’t a popular cross. GBP/JPY, EUR/GPY and EUR/GBP are far more popular. I noticed this price by chance – it’s almost a decade low. Back in May 2000, EUR/AUD traded lower, as low as 1.5010. May 2010? At that time, the Euro was a little more than a year old, and was just a monetary instrument. There were no Euro notes or coins – they were introduced only in January 2002. Usually such a breakout means that the pair has more to fall, but it’s hard to say where to. Looking at lower levels from is quite meaningless. Lower levels were seen so far in the past, that they are only anecdotal now. In addition, there was no Euro before 1999: the charts are based on the Deutsch Mark, French Franc and even the Greek Drachma. Fundamentals well reflected This cross will move by fundamentals more than technicals. Readers of Forex Crunch are aware of my bearish sentiment towards the Euro, and especially my appreciation of the Australian economy. Unemployment in Europe is almost double the Australian unemployment rate. The Australian economy enjoys prosperous trade with China. This kept Australia from falling into recession. In Europe, the big countries such as Germany and France are doing well, while the small countries are weighing heavily on the continent. Spain has an unemployment rate of 20%. Ireland, Italy and Portugal are in heavy debt. Greece has biggest debt – half a trillion dollars, or more than all its GDP. The interest rate gap: 3.75% to 1% in favor of Australia makes it an interesting carry trade as well. Long term investors have seen EUR/AUD fall every month since February 2009 going all the way from 1.98 to 1.52. That’s a whole year. Apart from the profit made by the change of price, the interest rate gap has brought a small overnight profit every day. Are you following, monitoring or trading EUR/AUD? I’d be glad to know. Want to see what other traders are doing in real accounts? Check out Currensee. It’s free. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Opinions share Read Next British Employment – A Bitter Disappointment for the Pound Yohay Elam 13 years It's quite a rarity to see a pair trade at levels last seen in 2000. EUR/AUD has this honor. The breach of a technical barrier reflects the fundamentals perfectly. EUR/AUD is now trading at 1.5268 bouncing off the a bottom of 1.5188 earlier. These numbers don't mean too much as this isn't a popular cross. EUR/USD is the world's most popular and AUD/USD is gaining traction in recent years. EUR/AUD? Yes. EUR/AUD isn't a popular cross. GBP/JPY, EUR/GPY and EUR/GBP are far more popular. I noticed this price by chance - it's almost a decade low. Back in May 2000,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.