EUR/AUD rallying to test 1.54 handle

FXStreet (Guatemala) - EUR/AUD is testing the1.54 handle, marking a high of 1.5398 after running up gains of half a cent from 1.5349 the low when the National Australia Bank's Business Conditions (Feb) and National Australia Bank's Business Confidence (Feb) was released.

National Australia Bank's Business Conditions (Feb) and National Australia Bank's Business Confidence (Feb) disappointed at 0 and 7 respectively vs previous 4 and 8 respectively. EUR/AUD will be tested next later this week, when we will see the Australian Employment change and Unemployment rates for Feb. The European calendar is relatively quiet except with German CPI at the end of the week and Trade Balance when European markets open later tonight. Meanwhile, the technical come with a bullish bias and RSI (14) allows room to the upside still reading below 70 at 55.90.