FX News

AUD/EUR (EUR/AUD) Conversion:

Global sentiment was in the toilet off the weekly open, the Australian Dollar (AUD)  extending last week’s losses to 0.6580 (1.5195) in early Tuesday sessions against the Euro (EUR) from 0.6720 (1.4880). A soft round of Eurozone data and a dovish ECB haven’t helped, and German factory orders slumped. Meanwhile the ongoing risk off tone has investors selling the Aussie as uncertainty weighs heavy. The value of iron ore has dropped around 5% since last Thursday as mining stocks struggle. A thin calendar this week sees no key standout events. On the chart- we see solid support at 0.6550 (1.5270) the 50% fib retracement area.

Current Level: 0.6548 (1.5271)
Resistance: 0.6850 (1.5330)
Support: 1.6525 (1.4600)
Last Weeks Range: 0.6681-0.7109 (1.4065-1.4966)

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