Risk markets were back in black in overnight with equity indices all closing stronger. The Australian Dollar (AUD) moved to 0.6430 (1.5555) late Monday before giving back gains into Tuesday. The Euro is feeling better after changes to the UK fiscal policy pushing the pair back to 0.6390 (1.5650). Our call for moves to retest the 0.6170 (1.6200) zone after further EUR momentum late last week remains, especially with a lack of economic data publishing over the week. All eyes will be on Aussie jobs data Thursday for direction signals.
Current Level: 0.6395 (1.5637)
Resistance: 0.6505 (1.6200)
Support: 0.6170 (1.5370)
Last Weeks Range: 0.6383-0.6557 (1.5250-1.5665)