The euro extended previous session's downtrend against the Australian dollar on Thursday morning in New York, falling below 1.25 for the first time since October 2.
The triangle formation has broken in the 120-minute of the EUR/AUD pair and it has already crossed the demand zone of 1.2660/40 area. The next barrier for the cross is visible around the 1.2435/40 area.
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Forex News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.