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Is the AUD vulnerable to a resurgent EURO?

Written by Sam Coxhead on December 14th, 2012.      0 comments

3:31 PM (NZT) The Euro has outperformed the AUD this week as the structural uncertainties in Europe subside once again. The pair remains in familiar and seemingly comfortable .8000-.8200 (1.2200 – 1.2500) recent range. If the European economic data looks like the worse has past as we star 2013, the AUD could come under some pressure. Consolidation through .8000 (1.2500) will be the initial target, before .7800(1.2820) for those looking for the pair to move back closer to more historically average levels. The RBA monetary policy meeting minutes next week will be closely watched. Its seems likely that the current levels may prove have offered good value buying of EURO with AUD over time.
 
The current interbank midrate is:                                                  AUDEUR .8045                    EURAUD 1.2430 
                                                                                         
The interbank range so far this week to date has been:       AUDEUR .8041 - .8144      EURAUD 1.2279 – 1.2436
Topics: EUR AUD
 

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