The EUR has been directionally controlled by the movements of the US Dollar, as have most other currencies. The rise in Bond Yields has underpinned the USD and pushed the EUR back below 1.0800. The cross-rate has traded around 0.6100 and this is likely to improve unless the RBA change monetary policy. Interest rates differentials are making the AUD much more attractive on the cross with the EUR.
Current Level: 1.6310
Resistance: 1.6500
Support: 1.6000
Last Weeks Range: 1.6138- 1.6318