The Euro (EUR) climbed to 1.6495 (0.6062) overnight against the Australian Dollar (AUD) as risk mood deteriorated with the Fed meeting looming. The cross has bounced off fib 61.8% support and sits around the 50% fib zone of the high at 0.6135 (1.6300) and the low of 0.6020 (1.6615) suggesting subsequent moves could be towards 0.6085 (1.6430) today. With no further tier one data on the docket in the cross this week moves should be “risk” corresponding.
Current Level: 0.6072
Resistance: 0.6190
Support: 0.6025
Last Weeks Range: 0.6020- 0.6117