The Australian Dollar (AUD) traded to a whisker of the yearly open Monday reaching 0.6170 (1.6212) against the Euro (EUR) before reversing to 0.6145 (1.6270) early Tuesday. Euro financial stability has improved with recession fears waning recently, but markets still remain exposed to geopolitical ongoing risks making the EUR a volatile beast. French and German manufacturing releases later in the week could surprise favourably for the euro.
Current Level: 1.6281
Resistance: 1.6370
Support: 1.6200
Last Weeks Range: 1.6221- 1.6368