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The EURO continues to struggle against the AUD.

Written by Sam Coxhead on March 16th, 2012.      0 comments

3:20 PM (NZT) The EURO remains at historically low levels against the Australian dollar. Whilst it is off the absolute lows, the EURO has remained unable to break higher against the AUD. A consolidated break of the .8000 (1.2500) is needed to open up the way for further EURO appreciation. The recovery back towards more normal interest rates for peripheral Euro-zone member states, should help push the EURO higher. Next week the RBA monetary policy meeting minutes remain the focus. In the meantime further patience is required for those looking for more historically average levels for this pairing.
 
The current interbank midrate is:                                               AUEUR  .8040                    EURAUD  1.2437                                                                                     
 
The interbank range so far this week to date has been:   AUDEUR .7966 – .8070   EURAUD 1.2391 – 1.2553
 

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