Dropping under the 1.6 level, Euro-Aussie dollar reached 1.5942 by the end of the trading session.

After ending Friday at 1.5942 and losing 114 pips, it now trades below the 1.6 level for the first time in 3 months.

Euro-Aussie dollar's value drop coincided with the fact that EUR/NZD dips 0.86% Friday and closed at 1.769. EUR/CAD lost 0.44% Friday and closed at 1.44.

Though Euro-Aussie dollar has been dropping, other pairs have been performing better: USD/CHF went up by 0.49% Friday, and closed at 0.9033.

Euro-Aussie dollar is now trading 3.9% away from its significant high of 1.6707 first tested a month ago.