The Australian Dollar (AUD) was the strongest currency last week across the main board- evident when we look at progress made on the Australian Dollar (AUD), Euro (EUR) chart. The Aussie extended last week’s gains Monday reaching 0.6040 (1.6560), a 3-week high as “risk” mood improved. Also of note was ECB’s Muller- suggesting the central bank may not need to raise rates further, other ECB members have been less optimistic with inflation not yet where it needs to be with outlook tilted to the downside.
Current Level: 0.5233
Resistance: 0.5280
Support: 0.5170
Last Weeks Range: 0.5215 – 0.5259