FX News

AUD/EUR Transfer:

A market shift in sentiment has taken the Australian Dollar (AUD) off recent lows around 0.6060 (1.6500) to 0.6275 (1.5930) this morning against the Euro (EUR) , a decent swing in a short amount of time. Comments from Villeroy around the slowdown in France’s inflation and soft data out in Italy have had the Euro on the backfoot. However, talk of higher interest rates should have the Euro well supported on dips. Looking ahead we have ECB’s interest rate and monetary policy out Friday with expectations of a hike from 3.75% to 4.00%- their 8th consecutive hike, in theory this should give the EUR a nudge. This comes as the European area slips into recession.

Current Level: 0.6273 (1.5941)
Resistance: 0.6290 (1.6150)
Support: 0.6190 (1.5900)
Last Weeks Range: 0.5638-0.5694 (1.7561-1.7734)

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