The Australian Dollar (AUD) pushed higher against the Euro (EUR) last week as “risk sentiment” improved closing around the 0.6080 (1.6450) area. The Aussie has been giving back gains on fresh buyer mood in the EUR which returned after the anticipated new German CDU/CSU leader Merz vowed to reduce Germany’s dependence on the United States to boost economic growth. The other plus for the euro is the potential news that Ukraine’s Zelensky would be willing to resign if a peaceful resolution of the Russia/Ukraine was offered up.
Current Level: 0.6064
Resistance: 0.6120
Support: 0.5965
Last Weeks Range: 0.6047- 0.6113