FX News

AUD/EUR Transfer:

The RBA raised their cash rate 25 points Tuesday to 3.25% from 2.85%. A hawkish RBA tone sent the Australian Dollar (AUD) lower off the news against the Euro to 0.6380 (1.5680) then to 0.6360 (1.5730) into Wednesday a February 2022 low as more “carry traders” departed. Price down here didn’t hold, the Aussie clawing back losses to 0.6420 (1.5620) on this morning’s open.. Growth for the third quarter came in at a reasonable 0.6% not quite the 0.7% markets were predicting as the annual number dropped from 6.2% to 5.9%. Forecasts have growth predicted to slow over the coming 18 months. Further downside for the Aussie is on the cards leading into Christmas.

Current Level: 0.6397 (1.5632)
Resistance: 0.6560 (1.6200)
Support: 0.6170 (1.5240)
Last Weeks Range: 0.6391-0.6567 (1.5227-.5645)

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