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The AUD remains at high levels against the EURO.

Written by Sam Coxhead on April 20th, 2012.      0 comments

4:45 PM (NZT) The price action has again been volatile for this pairing, albeit in a contained range for the week.  Whilst the EURO has consolidated back at levels well off its record lows of a month or so ago, the feeling of vulnerability remains. Expect volatility to continue  for this pair next week. The current pressure on the AUD has it again close to the crucial .7830(1.2770) level, and this provides the initial target for any EURO strength in the short term. The Australian inflation number on Tuesday will be the focus for the week, along with the various European manufacturing numbers and debt markets. The picture is mixed for this pair at current levels, and further sideways price action within the recent range would not surprise in the short term.
 
The current interbank midrate is:                                               AUEUR  .7858                    EURAUD  1.2726                                                                                    
 
The interbank range so far this week to date has been:   AUDEUR .7847 – .7943   EURAUD 1.2589 – 1.2743
 

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