The ECB have cut rates and the interest rate differential with the AUD looks set to increase in the favour of the commodity currency. The AUD/EUR cross fell all the way to 0.5900, only to regain ground, following the August resurgence, to trade up above 0.6050. The commodity demand and interest rate differentials support a stronger AUD on the cross with the EUR.
Current Level: 1.6454
Resistance: 1.6600
Support: 1.6393
Last Weeks Range: 1.6445- 1.6570