French budget woes and softer German prelim CPI m/m have both contributed to the Euro (EUR) demise over the past few days against the Australian Dollar (AUD) sending prices in the cross to 0.6220 (1.6080) in morning trade. A retest and break above 0.6250 (1.6000) the 2024 high would signal further upside for the AUD. With the RBA holding tight on easing policy until next year we could certainly see more of the same.
Current Level: 1.6108
Resistance: 1.6600
Support: 1.6000
Last Weeks Range: 1.6116- 1.6402