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Mixed form for the AUD against the EURO.

Written by Sam Coxhead on May 4th, 2012.      0 comments

6:39 PM (NZT) This pair has had a relatively volatile week as it has washed around within its now familiar recent range.  The AUD saw considerable pressure following the surprise 50pt cut from the RBA, but it subsequently saw demand increase again, before again seeing pressure overnight. The .7770 (1.2870) level represent the first AUD support level for any further EUROI demand, but expect further gains for the EURO to be hard fought in the current environment. The Australian employment numbers offer the primary data focus next week.
 
The current interbank midrate is:                                               AUEUR  .7803                    EURAUD  1.2816                                                                                     
 
The interbank range so far this week to date has been:   AUDEUR .7768 – .7904   EURAUD 1.2652 – 1.2873
 

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