FX News

AUD/EUR Transfer:

The Australian Dollar (AUD) gave back gains Monday as risk sentiment soured, the Euro (EUR) safe play taking price to 0.6395 (1.5640) off the weekly open of 0.6495 (1.5400). Also of note, the EUR seems better supported off the back of a hawkish tone of late from the ECB. Eurozone inflation expectations prints tomorrow, predicted to stay over 10% for the third month straight. Unless there is a significant drop in the number we expect the ECB to look at another 75-point hike of their interest rate when they meet on the 15th of December. We think 0.6390 (1.5650) should hold.

Current Level: 0.6430 (1.5552)
Resistance: 0.6565 (1.6170)
Support: 0.6185 (1.5230)
Last Weeks Range: 0.6430-0.6511 (1.5357-1.5551)

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