The Australian Dollar (AUD) 2 week run higher against the Euro (EUR) seems to have come to an end bouncing out of the bull trend from the low at 0.6100 (1.6400) to 0.6200 (1.6130) into Tuesday. Chart patterns are suggesting the recent run up has been exhausted with signals suggesting a move higher by the AUD is most likely if the cross can stay above 0.6185 (1.6170). Aussie CPI y/y prints tomorrow with a result expected to show a rise to recent inflation to 3.8% y/y from 3.6% possibly giving further upside bias to the AUD.
Current Level: 0.6197
Resistance: 0.6240
Support: 0.6170
Last Weeks Range: 0.6149- 0.6240