FXstreet.com (San Francisco) - The Australian dollar has started the new year on a strong note, as EUR/AUD continues to trade under heavy selling pressure, reaching a historic low of 1.2613 in early Asia, “allied with strong take-profit orders in EUR/USD below 1.2900 to ensure strong topside pressure on AUD/USD,” comments Sean Lee, Editor at ForexLive.

EUR/AUD “technicals [are] pointing for further losses given the emphatic break of major support in the A$1.2900/1.3000 zone,” says the Australia and New Zealand bureau of Reuters. “Aussie also firms on the U.S. dollar to $1.0230, up from $1.0214 in London on Monday and $1.0157 late here last Friday before the holiday. Support around $1.0200 with resistance at $1.0269.”