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Mixed for the AUD against the EUR.

Written by Sam Coxhead on July 27th, 2012.      0 comments

5:30 PM (NZT) This pair has traded in a relatively contained range this week, considering the wild moves seen in other markets. The AUD started the week at it’s peak before the risk aversion took over and it drove it down towards the support at .8450 (resistance 1.1835). Since then the gyrations have been flow driven for the most part. The AUD did see initial pressure following the Draghi statements of the ECB commitment to support financial stability. Expect the .8450/.8550 range (1.1700 - 1.1835 ) to hold in the short term. The ECB monetary policy decision and subsequent press conference will be the key focus next week, with the Australian data likely to be of limited significance to the price action.
 
The current interbank midrate is:                                               AUEUR  .8474                    EURAUD  1.1800                                                                                     
 
The interbank range so far this week to date has been:   AUDEUR .8437 – .8554   EURAUD 1.1690 – 1.1852
Topics: AUD EUR
 

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