FX News

AUD/EUR Transfer:

Risk off markets late last week has seen the Euro (EUR) jump from 1.5270 (0.6550) levels to 1.5540 (0.6435) this morning, the Australian Dollar (AUD) again under pressure. The ECB has again warned of recession risks with Lagarde saying chances have increased based on recent incoming economic data. She also highlighted bringing down inflation was key and raising rates beyond forecast numbers may be needed at the detriment of restraining growth. High natural gas prices caused by the Russian invasion of Ukraine and bottlenecks of supply post coronavirus lockdowns is partly to blame. The cross may struggle to push past support at 0.6380 (1.5670) the Feb 2022 low.

Current Level: 0.6447 (1.5511)
Resistance: 0.6535 (1.5700)
Support: 0.6370 (1.5300)
Last Weeks Range: 0.6431-0.6555 (1.5255-1.5549)

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