FX News

AUD/EURO Transfer

The Australian Dollar (AUD), Euro (EUR) has been trading sideways since mid-September with price retesting the long-term low at 0.5940 (1.6840) late in the week. The Aussie recovered off a bunch of various support ending the week on top around 0.5980 (1.6730). Price extended Monday to 0.6010 (1.6650) as the greenback fell out of favour and risk was again supported. A hawkish ECB should assist the Euro this week with comments from Wunsch suggesting the central bank may need to tighten further.

Current Level: 0.5993
Resistance: 0.6060
Support: 0.5880
Last Weeks Range: 0.5938 – 0.6012

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