FX News

EURO/AUD Transfer

Lower highs followed by lower lows represents 2024 moves in the Euro (EUR), Australian Dollar (AUD) cross to date. The trend last week supports further weakness in the Aussie after a bounce off 0.6080 (1.6450) multiple support line to current prices at 0.6055 (1.6515) as I write. A retest of last week’s low is the likely scenario, especially given the breakthrough the 50-day moving average. We have no significant data printing in the pair until NZ GDP on the 21st of March.

Current Level: 1.6531
Resistance: 1.6600
Support: 1.6455
Last Weeks Range: 1.6439- 1.6743

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