The Euro (EUR) has performed poorly this week against most main board currencies and has slumped against the Australian Dollar (AUD) to 0.6140 (1.6280) Wednesday before retracing moves back to 0.6125 (1.6330) in early morning. The RBA held interest rates at 4.35% Tuesday siting upside risks to inflation with messy govt electricity subsidies and automotive fuel prices influencing policy. We predict prices to retest the 0.6200 (1.6150) resistance zone.
Current Level: 1.6337
Resistance: 1.6620
Support: 1.6000
Last Weeks Range: 1.6301- 1.6599