FX News

The Euro (EUR) extended its bull run higher against the Australian Dollar (AUD) Monday reaching 1.7250 (0.5800) a fresh 2025 high. The Euro has easily been the best performing currency over the month of March with Germany poised to unleash 1T in spending on infrastructure and Defence a reversal on their usual conservatism. The cross sits just above long-term support at 0.5565 (1.7970) and may consolidate for a bit before possibly retesting this key area.

Current Level: 1.7277
Resistance: 1.8000
Support: 1.6800
Last Weeks Range: 1.6715- 1.7270

The Euro (EUR) extended its bull run higher against the Australian Dollar (AUD) Monday reaching 1.7250 (0.5800) a fresh 2025 high. The Euro has easily been the best performing currency over the month of March with Germany poised to unleash 1T in spending on infrastructure and Defence a reversal on their usual conservatism. The cross sits just above long-term support at 0.5565 (1.7970) and may consolidate for a bit before possibly retesting this key area.

Current Level: 0.5788
Resistance: 0.5950
Support: 0.5555
Last Weeks Range: 0.5790- 0.5982

Bank of England’s Mann recently ruled out gradually reducing monetary policy, the British Pound (GBP) enjoying moves to the topside with price Monday clearing the key 0.4880 (2.0500) level a fresh yearly low for the AUD. It’s a thin week of data for the cross with just UK GDP m/m predicted to show 0.1% growth in January. We expect the AUD/GBP to retest the March 2020 low at 0.4800 (2.0850).

Current Level: 2.0521
Resistance: 2.1700
Support: 1.9700
Last Weeks Range: 2.0179 – 2.0514

The Euro (EUR) has gone through the roof in recent weeks, this morning price action sits around the 0.5265 (1.9000) area after coming from 0.5500 (1.8170) just 2 weeks prior. Germany’s incredible defence and infrastructure spending plans in the hope of breaking a deep recession have certainly improved the currency. A conservative country usually, they may commit 1T in efforts to fire up the economy and rebuild their military capacity. We think the EUR has been overbought and we could see the start of a significant reversal in the coming days.

Current Level: 1.9047
Resistance: 1.9560
Support: 1.8650
Last Weeks Range: 1.8547 – 1.9051

The Euro (EUR) has gone through the roof in recent weeks, this morning price action sits around the 0.5265 (1.9000) area after coming from 0.5500 (1.8170) just 2 weeks prior. Germany’s incredible defence and infrastructure spending plans in the hope of breaking a deep recession have certainly improved the currency. A conservative country usually, they may commit 1T in efforts to fire up the economy and rebuild their military capacity. We think the EUR has been overbought and we could see the start of a significant reversal in the coming days.

Current Level: 0.5250
Support: 0.5110
Resistance: 0.5360
Last week’s range: 0.5249- 0.5391

The English Pound (GBP) rise to a fresh 2025 high against the New Zealand Dollar (NZD) overnight clocking 2.2600 (0.4425), also a December 2015 high. Heavy “risk off” sentiment overnight with uncertainty around the US economy and Trump Tariffs sent US Indices plunging taking the NZD with it. With the Bank of England (BoE) cutting rates to 4.5% and inflation accelerating sharply of late it will be captivating to see just how the BoE achieve their target of 2.0% inflation.

Current Level: 2.2634
Resistance: 2.2860
Support: 2.2360
Last Weeks Range: 2.2408- 2.2690

The English Pound (GBP) rise to a fresh 2025 high against the New Zealand Dollar (NZD) overnight clocking 2.2600 (0.4425), also a December 2015 high. Heavy “risk off” sentiment overnight with uncertainty around the US economy and Trump Tariffs sent US Indices plunging taking the NZD with it. With the Bank of England (BoE) cutting rates to 4.5% and inflation accelerating sharply of late it will be captivating to see just how the BoE achieve their target of 2.0% inflation.

Current Level: 0.4418
Resistance: 0.4475
Support: 0.4375
Last Weeks Range: 0.4407- 0.4462