FX News

AUD/EUR Transfer:

The Australian Dollar (AUD) bounced back off the weekly close of 0.6523 (1.5330) the long term low to 0.6635 (1.5070) into Tuesday on improving market sentiment and equity market rises, the DOW up over 2.5% on the day. The Euro has come under pressure as Russia captured four Ukraine regions with no end to the war insight. This week’s key standout is today’s RBA cash rate announcement with a rise to 2.85% expected, most likely the last 50-point rise in this tightening cycle before 25-point rises come into effect as Lowe cautiously approaches warnings of choking economic growth.

Current Level: 0.6614 (1.5119)
Resistance: 0.6685 (1.5340)
Support: 0.6520 (1.4960)
Last Weeks Range: 0.6523-0.6796 (1.4714-1.5329)

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