Same same but different. The Australian Dollar (AUD) hit hard on the geopolitical risk averse tone has fallen to 0.6065 (1.6490) against the Euro (EUR) this morning coming off 0.6110 (1.6370) late last week. We expected prices on the Monday open to be much worse but with a delayed retaliation from Israel of an attack on Iran and President Biden saying the US wouldn’t support such a move the heat came off late Monday. Risks still exist with Israel still considering how and when to respond. Lagarde speaks Thursday morning before Australian Jobs numbers.
Current Level: 1.6498
Resistance: 1.6630
Support: 1.6370
Last Weeks Range: 1.6365- 1.6517