Commodity products and equities were down off prior highs Monday confirming a broad-based risk off flow spanning mostly from Friday’s US hot inflation read. The Euro pushed higher to 1.5050 (0.6645) early today, a fresh two week low in the pair. French voting yesterday in the first round of parliamentary elections will determine if President Macron leads for a second term; he faces a resurgence from the opposition led by Melenchon. Key data out this week comes in the form of Australian employment with the employment rate expected to tick lower to 3.8% from 3.8%. With risk sentiment dominating moves we could see a retest of the 13-week low at 0.6590 (1.5170) this week.
Current Level: 0.6660 (1.5015)
Resistance: 0.6780 (1.5270)
Support: 0.6550 (1.4750)
Last Weeks Range: 0.6648-0.6775 (1.4758-1.5040)