The Australian Dollar (AUD) 2 week run higher against the Euro (EUR) seems to have come to an end bouncing out of the bull trend from the low at 0.6100 (1.6400) to 0.6200 (1.6130) into Tuesday. Chart patterns are suggesting the recent run up has been exhausted with signals suggesting a move higher by the AUD is most likely if the cross can stay above 0.6185 (1.6170). Aussie CPI y/y prints tomorrow with a result expected to show a rise to recent inflation to 3.8% y/y from 3.6% possibly giving further upside bias to the AUD.
Current Level: 1.6136
Resistance: 1.6200
Support: 1.6020
Last Weeks Range: 1.6025- 1.6262