Hawkish comments from the ECB have buoyed the Euro (EUR) higher Monday against the Australian Dollar (AUD) pushing to 1.6500 (0.6060) a fresh 7 week high in the cross as it extends off last week’s 1.6140 (0.6200). ECB’s Wunsch said he had no urgency to cut rates, while a 50-point cut at the December meeting looks the ticket pending incoming data.
Current Level: 1.6501
Resistance: 1.6620
Support: 1.6400
Last Weeks Range: 1.6137- 1.6310