Just look at eur/usd and aud/usd, or simply just look at eur/usd, if eur is flying either way, it will show up on eur/aud pair. Bottom line as long as the majors have attention the crosses transitively will have as well.
Thanks for the suggestion but the range is a lot wider though, and correlation isn't constant (perhaps due to RBA intervention?)
I wasn't referring to correlation of their time series. I was referring to the mechanics of how the eur/aud is affected by the respective currencies movement relative to the dollar.
Go eat some turkey. Nobodys trading, markets are going to be shit. Or maybe fade extremes at a fixed spread broker to teach them a lesson.
yep, not trading, if i see some movement on Friday, i will take a bite but if european early morning trading is dead, then forget it.