FX News

AUD/EUR Transfer:

The Euro (EUR) extended moves on the Australian Dollar (AUD) Monday to 0.6112 (1.6360) despite taking on water from recent terrible data. Softer Eurozone PMI and French and German manufacturing releases were all below expectation with the German ifo – its most weighty economic indicator failing to impress after slow Chinese re-opening and policy tightening dampened sentiment. This week’s Australian CPI y/y release holds interest with predictions this could come in higher than markets are expecting.

Current Level: 0.6120 (1.6339)
Resistance: 0.6180 (1.6500)
Support: 0.6060 (1.6180)
Last Weeks Range: 0.6121-0.6294 (1.5888-1.6336)

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