FX News

EURO/AUD Transfer

The AUD remains soft, as has the EUR over the last week or so, trading around 0.6100, A slew of European inflation and growth data will almost certainly change this tight trading range. A recessionary Europe, with continued rising inflationary pressures, will force the ECB to hold rates higher, which will support the EURO$. If the reversal in recent upward inflation pressures ceases, then the growth narrative will take precedence and add pressure to the ECB to make rate cuts,
undermining the EURO.

Current Level: 1.6447
Resistance: 1.6103
Support: 1.666
Last Weeks Range: 1.6313 – 1.6529

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