EUR/AUD inches below 1.2300

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EUR/AUD inches below 1.2300

FITITOL--> FXstreet.com (San Francisco) - The EUR/AUD pair extended its decline this Monday to fresh 4-month lows, largely on the back of a weaker euro after poor data.

The pairing has slipped below the 1.2300 figure to fall as low as 1.2275 in North America from an earlier high of 1.2362, last quoted at session lows to record a loss of 0.7% so far on the day.

Should EUR/AUD push lower, it could encounter support at 1.2260 (2 March low), then at 1.2225 (17 Jan low). To the upside, resistance lies at 1.2325 (28 June low).