AUD/EURO Transfer

ByDragana My Engine Lab

The Euro (EUR), Australian Dollar (AUD) inches closer to the 0.5750 (1.7400) level we saw 3 weeks ago trading into Tuesday at 0.5770 (1.7330). These levels are back at covid times of early 2020 with much of the recent moves- “tariff” related uncertainty and speculation. Today’s RBA rate announcement should see no shift off 4.10% as they continue their conservative approach in light of US president driven global trade impacts. Data in the form of Eurozone CPI is expected to show a small dip with inflation slowing in the area. Further downside momentum for the Aussie is expected.

Current Level: 0.5767
Resistance: 0.5865
Support: 0.5740
Last Weeks Range: 0.5795- 0.5866

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