The Australian Dollar (AUD) has reversed off resistance at 0.6010 (1.6640) at the end of the week slipping back into the bull channel seen over the past 8 weeks against the Euro (EUR). The uptick seen could however be limited to the 0.6135 (1.6300) zone as geopolitical tensions heat up in the Gaza Strip. Certainly, with a lack of meaningful data publishing in the pair global uncertainty could dominate.
Current Level: 1.6479
Resistance: 1.7000
Support: 1.6260
Last Weeks Range: 1.6392 – 1.6641