FX News

AUD/EUR Transfer:

Australian Unemployment printed better than predicted at 53,000 vs 20,000 people added to the workforce in March and the unemployment rate ticked lower from 3.6% to 3.5%. Movement in the cross post the release pushed prices off the long-term low at 0.6080 (1.6450) back towards 0.6140 (1.6280) as punters purchased AUD. The ECB is likely to take interest rates to 3.75% at the May 5th meeting, the first of 3 possible hikes this year with hikes also expected in June and July before resting for the remainder of the year. This should give the Euro more topside momentum at least over the coming couple of months.

Current Level: 0.6130 (1.6313)
Resistance: 0.6185 (1.6450)
Support: 0.6080 (1.6170)
Last Weeks Range: 0.6081-0.6150 (1.6258-1.6444)

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