The Euro (EUR) fell away sharply early week against all the main currency board, dropping to 1.6200 (0.6170) this morning against the Australian Dollar (AUD) after starting the week at 1.6400 (0.6100). The Euro has had one of the worst weeks in 2024 after PMI results and Manufacturing numbers all came in light. Not helping was the RBA which left rates unchanged at 4.35% as expected but the hawkish tone by Governor Bullock rallied the AUD sighting awkward inflation and a strong labour market.
Current Level: 1.6231
Resistance: 1.6600
Support: 1.6000
Last Weeks Range: 1.6315- 1.6535