NZ: 0800 560 006 – AU: 1800 993 100 
info@directfx.co.nz

Last modified on July 20th, 2018 4:21 am

When converting Australian dollars (AUD) to EUR, or EUR to AUD, by exchanging via Direct FX, you will save a significant amount of money. Our wholesale currency exchange rates for money transfers are significantly more competitive than bank foreign exchange rates. Being Australasian based, we specialise in knowing what drives AUD/EUR currency conversion rates.

AUD to EURO Overview:From the establishment of the Euro zone, until the financial market crisis of 2008, the AUD and EUR both traded in a relatively stable and correlated fashion. However since 2008 this close correlation has broken down considerably. The Australian economy has maintained upward momentum through its close links to the quickly developing Asian economies.The EURO however has been plagued by sovereign debt issues from its smaller nations, as Germany remains its engine for growth.

Historical Ranges: 1 year 5 years 10 years
AUD/EURO .6568 – .7339 .6025 – .8620 .4734 – .8620
EURO/AUD 1.3625 – 1.5225 1.1601 – 1.6598 1.1601 – 2.1123

Current Official Cash Rates:
Reserve Bank of Australia (RBA): 1.50%         European Central Bank (ECB): -0.30%

View AUDEUR charts

After a high yesterday of 0.6387 on release of the much better than expected employment data, this cross is now back around the 0.6315 level as the AUD is sucked back by lower commodity prices…should hold around current levels to close the week but look for the AUD to drift lower on this cross especially if commodity prices remain under pressure.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6308   EURAUD 1.5854
The interbank range this week has been:AUDEUR 0.6295 – 0.6382   EURAUD 1.7581 – 1.7878

View AUDEUR charts

Choppy trading in this cross but within existing ranges, now at 0.6331 but the Aussie looks vulnerable on this cross, pressured by weaker commodity prices and the potential for dovish RBA minutes later today. 0.6310 should be tested over the next day or so, a break of which would see a run towards 0.6265.

Exchange Rates
Current Level:  0.6329 (1.5799)
Resistance: 0.6370 (1.5847)
Support: 0.6310 (1.5698)
Last Week’s Range: 0.6298 – 0.6369 (1.5701 – 1.5877)

View AUDEUR charts

This cross has bounced around in a 73 point range between 0.6297-0.6370 over the last 3 days with little clear direction as both currencies are knocked by the ongoing trade war developments…the drop in commodity prices late in the week have more potential to push the AUD to weaker levels on this cross if commodity values continue to erode next week…now back at the 0.6358 mark the AUD should hold these levels until China data late this afternoon helps set direction.

Exchange Rates
The current interbank midrate is:AUDEUR 0.6350 EURAUD 1.5748
The interbank range this week has been:AUDEUR 0.6298- 0.6369 EURAUD 1.5701- 1.5877

View AUDEUR charts

The AUD is currently sitting around the 0.6360 mark, up from a 0.6324 low overnight…data looks to favour the Aussie more than the EUR currently and with commodity prices continuing to hold firm, look for the AUD to stay well bid against the EUR on this cross …further ructions from the NATO meeting later this week with President Trump also have potential to negatively affect EUR levels..

Exchange Rates
Current Level: 0.6358 (1.5728)
Resistance: 0.6370 (1.5847)
Support: 0.6310 (1.5698)
Last Week’s Range: 0.6295 – 0.6361 (1.5721- 1.5886)

View AUDEUR charts

The perfectly formed bullish channel mentioned in the last commentary is still in play in the Euro (EUR), Australian Dollar (AUD) cross.  It started from the high of 0.6545 (1.5280) and has extended over the last five weeks to 0.6295 (1.5890). Technically with this in mind investors and traders would be keen to bet against further momentum in the EUR as it makes further advances towards 0.6250 (1.6000). Currently trading around the 0.6320 (1.5820) area with US Non-Farm Payroll tonight.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6319   EURAUD 1.5826
The interbank range this week has been:AUDEUR 0.6295 – 0.6359   EURAUD 1.5726 – 1.5886

View AUDEUR charts

You rarely see a bullish channel on the chart form so perfectly formed as the one in progress now with the Euro (EUR), Australian Dollar (AUD). It started from the high of 0.6545 (1.5280) and has extended over the last five weeks to 0.6295 (1.5890). Technically with this in mind investors and traders would be keen to bet against further momentum in the EUR as it makes further advances towards 0.6250 (1.6000).

Exchange Rates
Current Level: 0.6341 (1.5770)
Resistance: 0.6370 (1.5900)
Support: 0.6290 (1.5700)
Last Week’s Range: 0.6295 – 0.6370 (1.5699-1.5886)

View AUDEUR charts

The Euro (EUR) has continued its bull run higher against the Australian Dollar (AUD) trading to a seven week low of 0.6320 (1.5820) German CPI was benign overnight printing at 0.1% based on expectation the figure would be closer to 0.2%, year on year this represents a rise of 2.1% to June 2018. European leaders are meeting in Brussels for a two day summit with some dark days ahead; high on the agenda will be the ongoing intl trade tensions. Next week’s RBA cash rate meeting will be interesting to gauge further direction.

Exchange Rates
The current interbank midrate is:AUDEUR 0.6340   EURAUD 1.5772
The interbank range this week has been:AUDEUR 0.6319- 0.6387   EURAUD 1.5658- 1.5826

View AUDEUR charts

The Australian Dollar (AUD) is well into its fourth week of declines against the Euro (EUR) suffering further weakness to 0.6325 (1.5810). Investors choosing to broadly stay out of deemed risk currencies such as the Australian Dollar (AUD) with further deterioration in risk “sentiment” as the US-China trade war deepens. With last week’s Manufacturing and Services numbers publishing well we will need further indication that these were not just blips in the EUR recovery program. If the Euro is to have a shot at the prior low of 0.6175 (1.6190) it must prove the bounce back is based on growth momentum and long term sustainability.

Exchange Rates
Current Level: 0.6332 (1.5793)
Resistance: 0.6400 (1.6000)
Support: 0.6250 (1.5620)
Last Week’s Range: 0.6322-0.6402 (1.5621 – 1.5817)

View AUDEUR charts

The Australian Dollar (AUD) has depreciated further against the Euro (EUR) over the past few days extending the decline from 0.6550 (1.5270) trading to 0.6350 (1.5740). Both central banks the RBA and the ECB spoke during the week talking from the same song sheet reiterating that rate rises would take time. Overnight the EUR has benefited from some bullish sentiment in the GBP with the Bank of England leaving the cash rate unchanged at 0.5%. German Manufacturing is tonight with markets predicting the numbers to be on cue. We see further declines on the cards for the Euro back above the 0.6535 (1.5300) area.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6363   EURAUD 1.5715
The interbank range this week has been:AUDEUR 0.6349 – 0.6457   EURAUD 1.5486 – 1.5750

View AUDEUR charts

The Euro (EUR) has appreciated sharply from this week’s open against the Australian Dollar (AUD) to 0.6385 (1.5660) with Eurozone wage data rising at a faster pace over the last three months. However, data last week indicated there has been no strong rebound from the first quarter slowdown in economic growth. 0.6370 (1.5700) is reflecting support for the Australian Dollar (AUD) this being the 50% retracement area highlighted from the high of 0.6557 (1.5250). We expect Aussie strength this week to retest 0.6410 (1.5600)

Exchange Rates
Current Level: 0.6380  (1.5674)
Resistance: 0.6425 (1.5730)
Support: 0.6355 (1.5560)
Last Week’s Range: 0.6360 – 0.6480 (1.5433 – 1.5724)

View AUDEUR charts

The Euro (EUR), Australian Dollar (AUD) pair meandered along a path of no real change throughout the week bouncing around 0.6450 (1.5500) as markets awaited key data. The EUR somehow managed to trade down to 0.6370 (1.5700) Thursday based on a mixed bag of Aussie employment data but has since retraced this earlier move back to 0.6465 (1.5470) with the ECB (European Central Bank) announcing they would keep rates unchanged but highlighted there would be no improvement until late 2019. This has spooked investors who will be eying 0.6560 (1.5250) now and beyond.

Exchange Rates
The current interbank midrate is:AUDEUR 0.6449   EURAUD 1.5506
The interbank range this week has been:AUDEUR 0.6376- 0.6480   EURAUD 1.5433- 1.5683

View AUDEUR charts

After finding support and bouncing off the high of 0.6550 (1.5280) last week the Euro (EUR) reached 0.6430 (1.5550) before easing back to 0.6460 (1.5470) early this week in thin market conditions. The main event of the week will be the European Central Bank (ECB) meeting with economists expecting a boost for the EUR. Policy makers should hint at easing monetary policy later in 2018 in the form of higher interest rates. For the meantime mild support is seen at 0.6460 (1.5480) with a push back to 0.6425 (1.5560) expected.

Exchange Rates
Current Level: 0.6456 (1.5489)
Resistance: 0.6540 (1.5610)
Support: 0.6410 (1.5280)
Last Week’s Range: 0.6428 – 0.6543 (1.5285 – 1.5557)

View AUDEUR charts

A long term lack of support for the EUR has come to an end this week with the EUR starting to recoup earlier losses against the Australian Dollar (AUD). The Euro has been on the back foot since 0.6200 (1.6150) the late April low but has broken from this decline trading through 0.6470 (1.5450) midweek from the high of 0.6550 (1.5270).  Hawkish comments were said around the inflation outlook boosting predictions for a positive ECB meeting next week. We still see uncertainty on the horizon in Spain and Italy and predict prices to reflect a possible weaker EUR looking ahead back retesting 0.6580 (1.5200)

Exchange Rates
The current interbank midrate is:AUDEUR 0.6453   EURAUD 1.5497
The interbank range this week has been:AUDEUR 0.6439 – 0.6546   EURAUD 1.5277 – 1.5529

View AUDEUR charts

The Euro (EUR) was been hammered this week against the Australian Dollar (AUD) dropping to a mid-January 2018 low of 0.6530 (1.5315) with political uncertainties in Italy developing as a result of the recent election. As the situation eased the EUR recovered along with worse than expected Aussie Private Capital Expenditure which printed at 0.4% on expectations of 0.8%. The RBA Release their cash rate and monetary policy next week, no change is expected at 1.50% Watch for volatility during US Non-Farm Payroll.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6468   EURAUD 1.5460
The interbank range this week has been:AUDEUR 0.6454 – 0.6528   EURAUD 1.5319 – 1.5493

View AUDEUR charts

The Australian Dollar (AUD) has continued its push higher against the struggling EURO (EUR) with the pair reaching 0.6500 (1.5370) as the EURO was flogged. The Italian election has weighed on the currency as uncertainty increases. A snap election is now on the cards. If Italian were to cast a vote against the EU at fresh elections this would bring to the table the bloc’s biggest challenge. Italy is the third largest economy and heavily in debt which represents a potential threat to the EUR than the Greek economic crisis. The EUR should extend its five week fall lower over the coming days with resistance seen at 0.6570 (1.5220).

Exchange Rates

Current Level: 0.6471 (1.5453)

Resistance: 0.6500 (1.5600)

Support: 0.6410 (1.5370)

Last Week’s Range: 0.6404 – 0.6504 (1.5374 – 1.5616)

View AUDEUR charts

The Australian Dollar (AUD) has continued to push the EURO (EUR) lower currently sitting at fresh highs of around 0.6470 (1.5450). The 1st of February 2018 was the last time this level was achieved. With geopolitical issues this week we have seen risk turn on a dime and spook markets, equities have been up and down several times over the week creating difficult trading conditions for investors. RBA governor Lowe spoke Wednesday night and highlighted debt risks facing China since the GFC of 2008 and how they could impact on the Australian economy given the strong trading relationships the two countries have. I wouldn’t bet against the Aussie continuing its momentum to retest 0.6550 (1.5260)

Exchange Rates

The current interbank midrate is:AUDEUR 0.6463   EURAUD 1.5474
The interbank range this week has been:AUDEUR 0.6359 – 0.6468   EURAUD 1.5462 – 1.5726

View AUDEUR charts

The EURO (EUR) has tanked over the past ten days dropping in value against the revived Australian Dollar (AUD) with 0.6400 (1.5620) being tested as we commented and broken with the pair travelling to 0.6440 (1.5530). The four week low of 0.6195 (1.6140) is a distant memory – the Aussie (AUD) has recovered well in a market which has also seen large selling action in the EUR. Its mostly EU data to publish for the rest of the week to dictate price with just the RBA governor Lowe to speak Wednesday on the Chinese economy.

Exchange Rates

Current Level: 0.6430 (1.5550)

Resistance: 0.6450 (1.5730)

Support: 0.6360 (1.5500)

Last Week’s Range: 0.9589 – 0.9715 (1.5534-1.5888)

View AUDEUR charts

The Australian Dollar (AUD) continues to regain losses from three weeks back versus the EURO (EUR) after mixed Aussie employment data published. The unemployment rate is up slightly from 5.5% to 5.6% with the economy adding 22,600 jobs in April up on the 19,800 expected. This put the EUR on the back foot as the pair travelled to 0.6370 (1.5700). Next week will interesting with a slew of eurozone manufacturing figures to publish 1.5620 resistance could be tested.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6360   EURAUD 1.5723

The interbank range this week has been:AUDEUR 0.6294- 0.6385   EURAUD 1.5661- 1.5888

View AUDEUR charts

The Australian dollar closed the week marginally in positive territory against the Euro (EUR) around 0.6320 (1.5820) at one point trading at a high of 0.6340 (1.5770). A slow start to the week has seen the EUR make up ground to 0.6300 (1.5880) support. The 40-day moving average looks to creating resistance around current levels with the pair expected to trade back to the previous low of 0.6300 (1.5880) if German economic sentiment tonight is below expectation.

Exchange Rates

Current Level: 0.6305 (1.5804)

Resistance: 0.6340 (1.5960)

Support: 0.6265 (1.5780)

Last Week’s Range: 0.6265-0.6338 (1.5778-1.5962)

View AUDEUR charts

The Australian Dollar (AUD) continued its long-term momentum lower this week against the Euro (EUR) with the pair trading around the top of the bearish channel at 0.6320 (1.5820). The Aussie has made a reasonable gain coming from 0.6270 (1.5950) but needs to be around 0.6380 (1.5670) to break from the downward spiral from January 2017. The Australian Budget was published with no surprises; tax cuts the main talking point. Buyers waiting for better prices should consider this spike higher based on an expected retrace lower.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6313   EURAUD 1.5840

The interbank range this week has been:AUDEUR 0.6265- 0.323   EURAUD 1.5815- 1.5962

View AUDEUR charts

The EURO (EUR) has continued its bearish move lower against the Australian Dollar (AUD) consolidating around the 0.6300 (1.5870) level. The EU economy slowed in the first quarter of 2018 with economic growth figures at 0.4% compared to 0.7% for the last quarter of 2017. The RBA commented that they see faster than economic growth in 2018 but stopped short of saying their inflation target will be reached by 2020 and the cash rate will stay at the record low for some time yet. With demand the Aussie Dollar (AUD) increasing over recent days markets will have a keen eye on NAB business confidence and the government’s annual budget Tuesday Night.

Exchange Rates

Current Level: 0.6295 (1.5885)

Resistance: 0.6320 (1.5960)

Support: 0.6265 (1.5830)

Last Week’s Range: 0.6233 – 0.6322 (1.5844 – 1.6045)

View AUDEUR charts

Euro (EUR) weakness has taken hold of the AUD/EUR cross sending it lower to 0.6290 (1.5890) against the Australian Dollar (AUD).  The EU economy slowed in the first quarter of 2018 with economic growth figures at 0.4% compared to 0.7% for the last quarter of 2017. Growth in the bloc reached 2.5% year on year. The RBA left rates on hold Tuesday as expected with no significant changes in the statement. They noted that current policy is accommodative with inflation and employment slowly returning to its target.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6295   EURAUD 1.5885

The interbank range this week has been:AUDEUR 0.6228- 0.9292   EURAUD 1.5893- 1.6057

View AUDEUR charts

The EURO (EUR) long term trend from the high of 0.7330 (1.3640) 12 February 2017 rolls on. The Australian Dollar (AUD) made up ground last week at one point trading to a high of 0.6260 (1.5970) but was soon back under pressure trading at 0.6230 (1.6050). Support is still seen at 0.6195 (1.6140) with CPI figures to release at the end of the week we could see a retest of 0.6215 (1.6090). Today’s RBA decision could lend support for a depleted Aussie Dollar.

Exchange Rates

Current Level: 0.6240 (1.6025)

Resistance: 0.6290 (1.6130)

Support: 0.6200 (1.5900)

Last Week’s Range: 0.6196 – 0.6262 (1.5970 – 1.6140)

View AUDEUR charts

With little from the ECB meeting last night other than expressing concern and caution over the recent cooling of activity, the AUD/EUR is holding around the 0.6240 level with no clear direction. The stronger USD over the last few days has pressured both the EUR and AUD with only a narrow range of 0.6196-0.6260 traded over the week…immediate support is at 0.6175 with resistance at 0.6340. However we expect the 0.6215-0.6250 range to hold until early next week.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6240   EURAUD 1.6027

The interbank range this week has been:AUDEUR 0.6196 – 0.6260   EURAUD 1.5973 – 1.6140

View AUDEUR charts

The Australian dollar (AUD) has suffered against the Euro (EUR) this week trading to a low last night of 0.6227. The move is a continuation of the declines that started in the wake of last week’s soft Australian employment numbers. Since then the AUD has underperformed most other currencies in the face of broad based USD strength. Today’s Australian inflation data will be key to near term direction, but with the current bearish trend firmly entrenched, it would take a surprisingly strong result to turn the market around. If we get a soft inflation figure, the 2018 low of 0.6177 will be a target.

Exchange Rates

Current Level: 0.6228 (1.6057 )

Resistance: 0.6270 (1.6189)

Support: 0.6177 (1.5949)

Last Week’s Range: 0.6227 – 0.6309 (1.5850 – 1.6059)

View AUDEUR charts

The EURO (EUR) has carried over its bullish theme against the Australian Dollar (AUD) this week, Thursday pushing to a fresh low of 0.6258 (1.5980) with risk markets taking a backseat to the safe haven investment. Australian employment data didn’t assist the Aussie with figures lower than expected weighing it down. The 2018 bearish move is still in play from the high of 0.6600 (1.5150) as the pair may retest the late March price of 0.6180 (1.6180) if next week’s German, French and French manufacturing figures are positive.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6250   EURAUD 1.6000

The interbank range this week has been:AUDEUR 0.6247- 0.6338   EURAUD 1.5777- 1.6009

View AUDEUR charts

The EURO (EUR) has reversed last week’s losses pushing off the high of 0.6340 (1.5770) travelling to 0.6273 (1.5940) against the struggling Australian Dollar (AUD). Aussie monetary policy minutes is published today as markets predict the comments should offer the Aussie further support leading into the Australian unemployment rate Friday. Technically the pair is trading above the 40 day moving average but looks shaky at the current level of 0.6280 (1.5920). Look for a break higher back to 0.6400 (1.5620).

Exchange Rates

Current Level: 0.6275 (1.5936)

Resistance: 0.6395 (1.6200)

Support:  0.6173 (1.5640)

Last Week’s Range: 0.6252 – 0.6338 (1.5777 – 1.5994)

View AUDEUR charts

The market pushed the Australian Dollar (AUD) higher this week to 0.6305 (1.5860) against the EURO (EUR) but it has not been all one-way traffic. Trade tensions over tariffs with the US and China are still a cause of concern with Trump now joining the party with missile threats into Syria drawing questions. The markets have chosen to invest in risk currencies for most of the week with the AUD making small gains over the EURO. The cross has sailed through last week’s resistance at 0.6290 (1.5900) and looks to test prior levels around 0.6330 (1.5800) soon.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6298   EURAUD 1.5878

The interbank range this week has been:AUDEUR 0.6227 – 0.6304   EURAUD 1.5863 – 1.6060

View AUDEUR charts

Whipsaw movement in the Australian Dollar (AUD), EURO (EUR) pair has been evident over the past two weeks while the trade negotiations between China and the US government tensions still dominate markets. The cross traded to a low of 0.6225 (1.6060) Monday after risk again came off the table and investors purchased the safer EUR. We see a continued move in the pair back to late March lows of 0.6180 (1.6180) as the EUR marches forward from the recent momentum based from the January high of 0.6610 (1.5130)

Exchange Rates

Current level: 0.6275 (1.5936)

Resistance: 0.6289 (1.0608)

Support:0.6220 (1.5900)

Last Week’s Range:0.6227 – 0.6289 (1.5900 – 1.6060)

View AUDEUR charts

The EURO (EUR) has extended its loses on last week’s falls against the Australian Dollar (AUD) as the pair reached a high of 0.6290 (1.5900), it looks set to test the previous high of 0.6305 (1.5860) perhaps this week, Earlier the German Retails Sales printed worse than expected offering further support for the Aussie (AUD) with EURO CPI surprising to the downside with 1.4% headline inflation. Non-Farm Payroll is expected to offer up its usual volatility to currencies later tonight, but with a positive figure on the cards expected, we may see a break through 0.6300.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6270   EURAUD 1.5949

The interbank range this week has been:AUDEUR 0.6217- 0.6290   EURAUD 1.5899- 1.6084

View AUDEUR charts

The EURO (EUR) continues to gain strength against the Australian Dollar (AUD) pushing past the mid-January 2016 support of 0.6225 (1.6065) to post a new low of 0.6517 (1.6085) Markets were spooked late in the week with continued trade talks dampening earlier risk appetite, the pair was soon back to 0.6250 (1.6000) as President Trump created more ripples. This week’s movement will also be guided around by overseas influences and risk with no significant data to publish just German Retail Sales and CPI. We expect the pair to continue through to 0.6150 (1.6250)

Exchange Rates

Current Level: 0.6240 (1.6025)

Resistance: 0.6258 (1.6180)

Support: 0.6180  (1.5980)

Last Week’s Range: 0.6177 – 0.6255 (1.5988 – 1.6190)

View AUDEUR charts

The EURO (EUR) is currently testing support at 0.6225 (1.6065), the January 2015 low against the Australian Dollar (AUD). The Aussie (AUD) continues to weaken against a surging EURO (EUR) in a risk on market based on positive trade talks between China and the US. The AUD/EUR may go lower if current support continues, the next support is 0.6150 (1.6250) the February 2016 level. Buyers should consider above 0.6200

Exchange Rates

Current Level: 0.6220 (1.6077)

Resistance: 0.6357 (1.6500)

Support: 0.6067  (1.5610)

Last Week’s Range: 0.6200 – 0.6299 (1.5875 – 1.6130)

View AUDEUR charts

The EURO (EUR) has made small gains against the Australian Dollar (AUD) after initially posting a high off 0.6305 (1.5860) the pair was sold off back through the weekly open to a fresh low of 0.6234 (1.6040). Next week we have French and German Manufacturing along with German Economic Sentiment. Buyers of EUR should watch for the near term key support of 0.6150 (1.6260)

Exchange Rates

The current interbank midrate is:AUDEUR 0.6245   EURAUD 1.6013

The interbank range this week has been:AUDEUR 0.6235 – 0.6335   EURAUD 1.5785 – 1.6039

View AUDEUR charts

The Australian Dollar (AUD) continues to lose ground over its EURO (EUR) counterpart falling to 0.6240 (1.6025) early Tuesday. Having started the previous week at 0.6385 (1.5660) this is a significant shift to the downside showing thin air to 0.6020 (1.6600) support area going all the way back to August 2015. Aussie Monetary Policy Minutes publish Tuesday afternoon and Australian Unemployment figures print Thursday. Current levels represent favourable times for selling EURO, watch for spikes lower over the coming days..

Exchange Rates

Current Level: 0.6245 (1.6012)

Resistance: 0.6370 (1.6240)

Support: 0.6157 (1.5700)

Last Week’s Range: 0.6241 – 0.6394 (1.5639 – 1.6024)

View AUDEUR charts

The Australian Dollar (AUD), EURO (EUR) has pushed back to the weekly low of 0.6330 (1.5800) after earlier bouncing off resistance of 0.6400 (1.5630) A raft of positive Chinese data releases gave the Australian Dollar (AUD) a boost with the biggest expansion since figures since last June showing the economy is booming. The industrial production figures for February rose by a massive 7.2%. Technically the pair sits on the 50% retracement level between the low of 0.6277 (1.5930) and the high of  0.6400 (1.5630) if passing lower through the 40 day moving has relevance we may see the previous low of 0.6277 (1.5930) tested. A bunch of German manufacturing data to publish next week along with Aussie unemployment numbers.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6325   EURAUD 1.5810

The interbank range this week has been:AUDEUR 0.6319- 0.6401   EURAUD 1.5624- 1.5825

View AUDEUR charts

The Australian Dollar (AUD) made a strong comeback late last week against the EURO (EUR) in risk on markets buoyed by calmer investors after Trump’s comments regarding tariffs. The Aussie (AUD) pushed all the way back to massive resistance levels of 0.6400 (1.5620), the pair has eerily rejected this level over 5 times over the past month. The RBA’s Bullock speaks today along with NAB Business confidence should give the Aussie (AUD) further momentum leading into ECB Draghi’s speech tomorrow. Watch for AUD/EUR to travel back to 0.6330 (1.5800) this week.

Exchange Rates

Current Level:0.6388 (1.5655)

Resistance: 0.6410 (1.5930)

Support:0.6277 (1.5600)

Last Week’s Range: 0.6259-0.6401 (1.5624 – 1.5976)

View AUDEUR charts

The EURO (EUR) dropped in value against the Australian Dollar (AUD) Thursday after Draghi’s ECB speech. The initial confident tone pushed the pair lower to 0.6273 before EUR was sold off over the next few hours to 0.6333 (1.5790) as the AUD continues to make up ground. NAB Business confidence prints next week along with German Economic sentiment, expect further swings.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6320   EURAUD 1.5822

The interbank range this week has been:AUDEUR 0.6259- 0.6334   EURAUD 1.5789- 1.5976

View AUDEUR charts

The EURO (EUR) has broken key support against the Australian Dollar (AUD) during the current cycle of AUD weakness as it has pushed aside 0.6330 (1.5800) during Eurozone election carnage. Somehow the EUR has found strength with investors as buyers continue to see the EUR as good buying. The 0.6190 (1.6130) level of mid 2015 still remains the target as we previously reported, some may say inevitable now, perhaps the RBA later today will give the Australian Dollar some much needed direction.

Exchange Rates

Current Level:0.6301 (1.5870)

Resistance: 0.6330 (1.6180)

Support:0.6180 (1.5800)

Last Week’s Range:  0.6278 – 0.6399 (1.7672 -1.7864)

View AUDEUR charts

The EURO (EUR) looks to be on the verge of breaking past the key support level of 0.6330 (1.5800) against the Australian Dollar (AUD) as it makes a push into March 2016 levels. As the EUR gathers pace against the AUD the double bottom support level of 0.6191 (1.6130) from mid 2015 and early 2016 remains a target in the medium term if the ECB can sort out its quantitative easing program.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6330   EURAUD 1.5798

The interbank range this week has been:AUDEUR 0.6319- 0.6401  EURAUD 1.5621- 1.5824

View AUDEUR charts

After last week’s price range bound action the Australian Dollar/Euro (AUD/EUR) pair continues to knock around in its boring retracements, 0.6402 (1.5620) the high and 0.6330 (1.5800), the low trading anywhere in between. ECB Policy Minutes had no real impact as its sits at 0.6381 (1.5670) Tuesday. CPI announcements today along with German Retail Sales Friday may give the pair some reason to break out of its current cycle.

Exchange Rates

Current Level: 0.6375 (1.5686)

Resistance: 0.6402 (1.5720)

Support: 0.6350 (1.5620)

Last Week’s Range: 0.6347 – 0.6407 (1.5608 – 1.5756)

View AUDEUR charts

Much overdue price action in Australian Dollar/ Euro (AUD/EUR) saw the pair rally to a 0.6408 (1.5604) high before pulling back below 0.6400 to trade at 0.6357 (1.5730) Thursday in heavy traffic after German Manufacturing figures published. Support still seen at 0.6330 with ECB Policy Minutes to come Friday to perhaps offer further assistance for the EUR heading into next week.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6360   EURAUD 1.5723

The interbank range this week has been:AUDEUR 0.6347- 0.6407   EURAUD 1.7611- 1.7849

View AUDEUR charts

The Australian Dollar – EURO (AUD/EUR) has seen very little action over the past week- two week period. The pair currently trades at 0.6377 (1.5680) the same price it was at last weekend’s close and the week before- odd. Further direction is clearly needed as the EUR tries to break downside support of 0.6329 (1.5800) last seen in January 2016. This week’s German Manufacturing will be key Wednesday.

Exchange Rates

Current Level: 0.6377 (1.5681)

Resistance: 0.6390 ( 1.5650)

Support: 0.6361 (1.5720)

Last Week’s Range: 0.6324 – 0.6406 ( 1.5610 – 1.5813)

View AUDEUR charts

The Australian Dollar- Euro (AUD/EUR) has seen a week of wide ranging prices as the pair struggles to find a level. Trading as high as 0.6408 (1.5606) Tuesday it travelled to 0.6322 (1.5816) as direction remained uncertain. Next week we have Aussie Monetary Policy.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6350   EURAUD 1.5748

The interbank range this week has been:AUDEUR 0.6324- 6404   EURAUD 1.5610- 1.5813

View AUDEUR charts

The Australian dollar (AUD) broke last week’s tight trading range on Monday pushing past resistance of 0.6390 (1.5650) against the Euro (EUR). Trading Tuesday above 0.6400 it looks to bounce back at 2017 levels of 0.6535 (1.5300).

Exchange Rates

AUDEUR 

Current Level: 0.6389

Support: 0.6330

Resistance:0.6402

Last Week’s Range: 0.6333 – 0.6400

EURAUD

Current Level:  1.5652

Support: 1.5620

Resistance: 1.5800

Last Week’s Range:  1.5625 – 1.5791

View AUDEUR charts

The Australian Dollar (AUD) against the EUR this week has remained within a tight range. Trading between 0.6350 (1.5750) and 0.6390 (1.5645) nothing of note has been published to create a breakout through the range. Next week look for possible downside pressure if we continue to see a weaker AUD.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6356   EURAUD 1.5734

The interbank range this week has been:AUDEUR 0.6333 – 0.6393   EURAUD 1.5642 – 1.5791

View AUDEUR charts

The AUD continues to slide against the EUR, dropping from a high of 0.6497 last Thursday to 0.6353 this morning. With little expected from the RBA tomorrow to bolster the AUD we expect the gradual drift lower for the AUD.  Especially if the EUR can hold to lower declines against the USD strength in comparison to the AUD.

Exchange Rates

AUDEUR

Current Level: 0.6359

Support: 0.6330

Resistance: 0.6500

Last Week’s Range: 0.6348 – 0.6552

EURAUD

Current Level: 1.5725

Support: 1.5384

Resistance:  1.5767

Last Week’s Range: 1.5263 – 1.5754

View AUDEUR charts

The AUD slid lower yesterday after the lower than expected CPI data dropping from 0.6531 to 0.6484 where it is currently trading. Eurozone data continues to be supportive of the EUR but with the RBA rate meeting next week, current ranges should hold until next Tuesday.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6484   EURAUD 1.5424

The interbank range this week has been:AUDEUR 0.6454 – 0.6552   EURAUD 1.5263 – 1.5494

View AUDEUR charts

A better performance by the AUD on this cross as the AUD has held better levels in the face of a USD rally. Now around 0.6538 could see a push back over 0.6550 if tomorrows Australian CPI figure is above expectations. EUR data also this week for GDP and inflation also has potential to move direction.  We favour the EUR on this AUD/EUR cross.

Exchange Rates

AUDEUR

Current Level: 0.6536

Support: 0.6386

Resistance:  0.6600

Last Week’s Range: 0.6454 – 0.6552

EURAUD

Current Level: 1.5299

Support: 1.5151

Resistance: 1.5657

Last Week’s Range: 1.5263 – 1.5494

View AUDEUR charts

Choppy trading on this AUD/EUR cross with swings between 0.6454 and 0.6546 over the last two days. It is now back around the 0.6477 level but after ECB head Draghi’s comments on EUR interest rates remaining unchanged for most of this year we favour more downside for the Aussie over the short term…look for consolidation at current levels heading into next week’s CPI data mid-week.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6471   EURAUD 1.5452

The interbank range this week has been:AUDEUR 0.6454 – 0.6549   EURAUD 1.5269 – 1.5494

View AUDEUR charts

Although relatively flat on this cross the AUD is marginally stronger at 0.6538. Aussie data remains supportive, but news on this AUD/EUR cross is all around the ECB meeting on Thursday. Look for current levels to hold ahead of Thursday. German politics may also be factor later in the week.

Exchange Rates

AUD/EUR

Current Level: 0.6531

Support: 0.6386

Resistance: 0.6600

Last Week’s Range: 0.6483 – 0.6550

EUR/AUD

Current Level: 1.5311

Support: 1.5151

Resistance: 1.5657

Last Week’s Range: 1.5268 – 1.5425

View AUDEUR charts

The AUD has dropped on this cross as EUR gains against the USD outstrip AUD/USD strength. After a high of 0.6562 on Friday the AUD is now trading down at 0.6495, but with Aussie data expected to be supported this week we look for move back to 0.6550 and above later this week.

Exchange Rates

AUD/EUR

Current Level: 0.6494

Support: 0.6386

Resistance: 0.6600

Last Week’s Range: 0.6476 – 0.6598

EUR/AUD

Current Level: 1.5400

Support: 1.5151

Resistance: 1.5657

Last Week’s Range: 1.5156 – 1.5442

View AUDEUR charts

The AUD continues to track higher on this cross, after starting the week at 0.6519 is has made a high of 0.6598 after yesterday’s surge in retail sales, the AUD has now weakened slightly on this cross as the hawkish ECB minutes saw EUR buying to take this cross back to 0.6548. Australian labour data next will create further opportunity and we look for this cross to push over 0.6600 mid next week.

Exchange Rates

The current interbank midrate is:AUDEUR 0.6545   EURAUD 1.5277

The interbank range this week has been:AUDEUR 0.6496 – 0.6598   EURAUD 1.5156 – 1.5393

View AUDEUR charts

The Australian dollar (AUD) has continued to build on earlier gains against the EUR, now trading around 0.6561 up from 0.6496 seen last Friday. Commodity strength continues to underpin AUD performance …we favour the AUD on this cross and look for a move on the 0.6580 level over the week.

Exchange Rates

AUDEUR

Current Level: 0.6561

Support: 0.6315

Resistance: 0.6600

Last Week’s Range: 0.6481 – 0.6559

EURAUD

Current Level: 1.5242

Support: 1.5151

Resistance: 1.5835 

Last Week’s Range: 1.5246 – 1.5430

View AUDEUR charts

We have seen some choppy price action for the AUD/EUR pair over the past week or so, but with little overall direction. Dips toward the 0.6480 area are finding solid support while topside gains have been limited to the 0.6535 area. The Euro has been supported by decent economic data, while the AUD has been helped by broadly stronger commodities. Ultimately, we suspect the pair will break higher, but for now it seem content to bounce around the 0.6500 level. As such we favour buying into dips over the coming week.

Exchange Rates

The current interbank midrate is: AUDEUR 0.6516   EURAUD 1.5348

The interbank range this week has been: AUDEUR 0.6481 – 0.6535   EURAUD 1.5305 – 1.5430

View AUDEUR charts

The AUD has broken higher on this cross now around 0.6510 up from a low of 0.6377 at the beginning of the week…the benign statement from the ECB was supportive of the AUD on this cross given that the RBA now looks to move rate higher sooner than the ECB, and if Aussie data continues to improve look for the AUD to outperform on this cross with 0.6545 next target heading into next week.

Exchange Rates

The current interbank midrate is: AUDEUR 0.6506   EURAUD 1.5371

The interbank range this week has been: AUDEUR 0.6376 – 0.6515   EURAUD 1.5349 – 1.5684

View AUDEUR charts

There has been little overall direction in this pair for much of the past week. Prices continue to range around the 0.6390 area and this is likely to continue as we await the ECB rate meeting later in the week. Longer term we favour the Euro (EUR) as improving economic fundamentals should support the single currency. But looking shorter term, Australian employment data on Thursday could easily provide a temporary boost for the Australian dollar (AUD).

Exchange Rates

AUDEUR

Current Level: 0.6392

Support: 0.6350      

Resistance: 0.6460

Last week’s range: 0.6373 – 0.6453

EURAUD

Current Level: 1.5645

Support: 1.5480  

Resistance: 1.5750

Last week’s range: 1.5496 – 1.5692

View AUDEUR charts

The AUD continues to struggle on this cross , is now at 0.6377 after a 22 month low at 0.6342 last Friday, not helped by poor Aussie data incomparasion to some better figures emerging from Europe…tonights US data will affect this cross as the AUD should lose more ground against the USD than the EUR on a good figure tonight…we look for more AUD downside on this pair next week.

Exchange Rates

Support: 0.6315 (1.5835)      

Resistance: 0.6600 (1.5151)

View AUDEUR charts

The AUD is at a 20 month low on this cross at 0.6347 as the EUR is spurred by better data and the chance that a Brexit deal may get done sooner rather than later…Aussie data although picking up still has away to go before the AUD recovers on this cross….Aussie politics are not helping….should hold above 0.6315 support heading into next week.

Exchange Rates

The current interbank midrate is: AUDEUR 0.6348     EURAUD 1.5753

The interbank range this week has been: AUDEUR 0.6348-0.6439     EURAUD 1.5753-1.5530

View AUDEUR charts

The AUD is higher against the Euro (EUR) at 0.6435 but trading in a tight range. German political uncertainty is supportive for the AUD on this cross but better Eurozone data will prevent the AUD over performing. Look for consolidation in a 0.6415-0.6470 range heading into next week.

Exchange Rates

The current interbank midrate is: AUDEUR 0.6436     EURAUD 1.5537

The interbank range this week has been: AUDEUR 0.6388-0.6468     EURAUD 1.5461-1.5654

View AUDEUR charts

With the AUD/EUR now around 0.6422, this cross continues to see the Australian dollar (AUD) weaken. It has managed to hold over the 0.6410 level but not with much conviction…the German coalition problems have given the AUD some lift, but we look for another test of 0.6410 later in the week.

Exchange Rates: 

AUD/EUR

Current Level: 0.6424

Support: 0.6410

Resistance: 0.6600

Last week’s range: 0.6388 – 0.6545

EUR/AUD

Current Level: 1.5566

Support: 1.5600

Resistance: 1.5151

Last week’s range: 1.5280 – 1.5654

View AUDEUR charts

The Australian dollar (AUD) has not enjoyed a good week against the Euro (EUR), slipping from highs around 0.6581 on Monday to the current level at 0.6432. The AUD/EUR has improved slightly after a 0.6408 low two days ago after better Australian data jobs yesterday. Look for consolidation at current levels going into next week, if the AUD can hold above the 0.6410 mark a rally back to the 0.6500/20 region is possible.

Exchange Rates: 

The current interbank interbank midrate is: AUDEUR 0.6431     EURAUD 1.5549

The interbank range this week has been: AUDEUR 0.6408 – 0.6605     EURAUD 1.5140 – 1.5606

View AUDEUR charts

With the better economic news the EUR has strengthened on this cross, now at 0.6535 as the AUD has softened on the weaker China data …immediate support is at 0.6529 then 0.6500.

Exchange Rates: 

Current Level Support Resistance Last week’s range
AUD/EURO 0.6536 0.6500 0.6760 0.6524 – 0.6630
EURO/AUD 1.5300 1.4792 1.5385 1.5083 – 1.5328

View AUDEUR charts

The Australian dollar (AUD) is now around 0.6600 against the Euro (EUR) after a 0.6631 high earlier in the week. Despite better Eurozone inflation/growth data overnight we still favour the AUD on this cross and look for another test of 0.6650 early next week. Support at 0.6582 should hold overnight.

Exchange Rates: 

The current interbank midrate is: AUDEUR 0.6596      EURAUD 1.5162

The interbank range this week has been: AUDEUR 0.6576 – 0.6630      EURAUD 1.5083 – 1.5207

View AUDEUR charts

The stronger Australian dollar is now at 0.6620 and consolidation at this level would see a move to immediate resistance at 0.6650. Support at 0.6582 not likely to be tested as long as commodities stay firm.

Current Level Support Resistance Last week’s range
AUD/EURO 0.6620 0.6550 0.6760 0.6565 – 0.6627
EURO/AUD 1.5107 1.4792 1.5267 1.5089 – 1.5233

View AUDEUR charts

Currently at 0.6591 after a choppy week, more pressure on the EUR should see the AUD test initial resistance at 0.6630 next week, but US jobs data presents event risk for both currencies.

The current interbank midrate is: AUDEUR 0.6590 EURAUD 1.5176

 

The interbank range this week has been: AUDEUR 0.6556 – 0.6627 EURAUD 1.5089 – 1.5253

View AUDEUR charts

Now at 0.6598 and AUD continues to soften on this cross, next support level is 0.6556 and if the trend continues should be tested in the next few days.

Current Level Support Resistance Last week’s range
AUD/EURO 0.6594 0.6550 0.6760 0.6497 – 0.6639
EURO/AUD 1.5165 1.4792 1.5267 1.5040 – 1.5391

View AUDEUR charts

Direction remains unclear on this cross although Spanish concerns have seen the AUD strengthen marginally to 0.6664, a push onto 0.6700 is possible over the next few days.

Current Level Support Resistance Last week’s range
AUD/EURO 0.6676 0.6590 0.6760 0.6622 – 0.6706
EURO/AUD 1.4980 1.4792 1.5174 1.4913 – 1.5102

View AUDEUR charts

The AUD is now at 0.6658 on this cross after a low of 0.6634 for the week, no clear direction and should hold current levels to start next week.

The current interbank midrate is:    AUDEUR 0.6656    EURAUD 1.5025

The interbank range this week has been:    AUDEUR 0.6622 – 0.6707    EURAUD 1.4910 – 1.5101

View AUDEUR charts

The AUD has had a better start to the week on this cross, now at 0.6701 but given the current risk sentiment unlikely to test 0.6760 in the next couple of days…look for consolidation at current levels.

Current Level Support Resistance Last week’s range
AUD/EURO 0.6696 0.6590 0.6760 0.6620 – 0.6759
EURO/AUD 1.4934 1.4792 1.5174 1.4796 – 1.5107

View AUDEUR charts

The Australian dollar has pulled back to 0.6632 currently and looks to test 0.6590 support next week. Resistance at 0.6760 now looks far away.

The current interbank midrate is:    AUDEUR 0.6629    EURAUD 1.5085

The interbank range this week has been:    AUDEUR 0.6620 – 0.6759    EURAUD 1.4796 – 1.5107

View AUDEUR charts

The AUD no around 0.6710, still within the existing 0.6650-0.6726 range, AUD data over the week has been good and the current trend is AUD positive. The high for the week has been 0.6751, look for this to be revisited next week.

The current interbank midrate is:    AUDEUR 0.6710    EURAUD 1.4904

The interbank range this week has been:    AUDEUR 0.6690 – 0.6750    EURAUD 1.4814 – 1.4949

View AUDEUR charts

The Australian dollar is lower at 0.6695 vs the Euro, but still within the existing range.  AUD weakness has been countered by the ECB comments on the strength of the EUR. We expect the 0.6650-0.6726 current range to hold ahead of the Aussie jobs data on Thursday.

Current Level Support Resistance Last week’s range
AUD/EURO 0.6695 0.6590 0.6840 0.6669 – 0.6739
EURO/AUD 1.4936 1.4620 1.5174 1.4838 – 1.4995

View AUDEUR charts

Still within the old 0.6650-0.6726 range, now at 0.6714 after a high of 0.6741 earlier in the week…the ECB has helped the EUR on this cross but still no clear direction …any increase in Korean tensions will affect the AUD more than the EUR.

The current interbank midrate is:    AUDEUR 0.6701    EURAUD 1.4923

The interbank range this week has been:    AUDEUR 0.6669 – 0.6739    EURAUD 1.4838 – 1.4995

View AUDEUR charts

The AUD at 0.6685 trading in a 0.6650-0.6726 range over the last 4 days, solid AUD data over the next few days may help with a push back over 0.6700 but ECB has the power to surprise at Thursday’s meeting…range should hold for the next few days.

Current Level Support Resistance Last week’s range
AUD/EURO 0.6684 0.6590 0.6840 0.6591 – 0.6710
EURO/AUD 1.4962 1.4620 1.5174 1.4903 – 1.5172

View AUDEUR charts

The AUD is at 0.6680 on this cross, up from 0.6591 earlier in the week. Better Eurozone  economic data favours the EUR on this cross and we look for another push to 0.6600 levels next week.
The current interbank midrate is:    AUDEUR 0.6675    EURAUD 1.4981

The interbank range this week has been:    AUDEUR 0.6591 – 0.6718    EURAUD 1.4886 – 1.5172

View AUDEUR charts

The Australian dollar is still in a sideways pattern albeit more GBP positive with the AUD lower at 0.6128 the renewed risk-off tone favours the GBP on this cross and a move down towards 0.6100 now looks likely.

Current Level Support Resistance Last week’s range
AUD/EURO 0.6621 0.6660 0.6840 0.6605 – 0.6742
EURO/AUD 1.5104 1.6116 1.6502 1.4833 – 1.5139

View AUDEUR charts

The AUD has drifted lower this week on the stronger EUR now at 0.6695 and on any ECB tightening talk tonight would see support at 0.6660 threatened.
The current interbank midrate is:    AUDEUR 0.6693    EURAUD 1.4940

The interbank range this week has been:    AUDEUR 0.6673 – 0.6759    EURAUD 1.4796 – 1.4987

View AUDEUR charts

The Australian dollar is easier on this cross as the Euro as strengthened against the USD. It is now around 0.6724 and should trade in the 0.6685-06750 range over the next few days.

Current Level Support Resistance Last week’s range
AUD/EURO 0.6723 0.6660 0.6840 0.6660 – 0.6786
EURO/AUD 1.4874 1.4620 1.5015 1.4737 – 1.5014

View AUDEUR charts

The ECB more dovish comments have seen the AUD rally to 6788 two days ago, has weakened a little overnight to 0.6730 but direction is unclear…should hold around current levels into next week but we favour a slide in the AUD back to towards the 0.6660 level..
The current interbank midrate is:    AUDEUR 0.6729    EURAUD 1.4861

The interbank range this week has been:    AUDEUR 0.6658 – 0.6786    EURAUD 1.4737 – 1.5021

View AUDEUR charts

The Australian dollar is back at similar levels to last weeks close …now at 0.6680 but good EUR data could push the AUD back on this cross to 0.6650/56.

Current Level Support Resistance Last week’s range
AUD/EURO 0.6679 0.6615 0.6840 0.6658 – 0.6744
EURO/AUD 1.4971 1.4620 1.5117 1.4829 – 1.5021

View AUDEUR charts

The Australian dollar has weakened on this cross, more affected by the safe-haven flows, now at 0.6685 after 0.6746 earlier in the week. Immediate support is 0.6656 and should hold this level heading to next week.
The current interbank midrate is:    AUDEUR 0.6665    EURAUD 1.5004

The interbank range this week has been:    AUDEUR 0.6663 – 0.6746    EURAUD 1.4823 – 1.5009

View AUDEUR charts

The Australian dollar is marking time on this cross, now at 0.6706 but it looks as if it will weaken further and head back to the 0.6685 level over the next few days.

Current Level Support Resistance Last week’s range
AUD/EURO 0.6701 0.6615 0.6840 0.6683 – 0.6794
EURO/AUD 1.4924 1.4620 1.5117 1.4718 – 1.4963

View AUDEUR charts

The Australian dollar has gradually weakened against the Euro over the week. It is currently at 0.6702 after 0.6815 on Monday. The EUR should continue its grind higher against the AUD and we look for a target of 0.6656 next week. This would provide a good opportunity for those looking to transfer EUR to AUD.
The current interbank midrate is:    AUDEUR 0.6697    EURAUD 1.4932

The interbank range this week has been:    AUDEUR 0.6683 – 0.6826    EURAUD 1.4650 – 1.4963

View AUDEUR charts

The Australian dollar traded to lows against the Euro of 0.6769 in the immediate aftermath of soft Australian inflation data on Wednesday. Since then however, volatility in the wider market has seen the AUD outperform the EUR and the pair reached a high of 0.6865 yesterday. A correction overnight now sees the AUDEUR trading close to where it started the week. With little in the way of overall direction for the pair, we expect to see further choppy prices action over the coming days.
The current interbank midrate is:    AUDEUR 0.6821    EURAUD 1.4660

The interbank range this week has been:    AUDEUR 0.6769 – 0.6865    EURAUD 1.4568 – 1.4772

View AUDEUR charts

The Euro staged a decent recovery against the Australian dollar in the second half of last week. The pair had previously traded to a high of 0.6929 (low of 1.4433), but by the end of the week a resurgent EUR had driven the cross back to support around 0.6770 (resistance around 1.4771). The market currently trades around 0.6810 (1.4684) as it awaits the key data release of the week in tomorrow Australian inflation figure. The data outcome may well dictate direction over the coming days. The market is expecting a quarterly inflation outcome of 0.4%.

Current Level Support Resistance Last week’s range
AUD/EURO 0.6809 0.6760 0.6840 0.6768 – 0.6929
EURO/AUD 1.4687 1.4620 1.4793 1.4433 – 1.4776

View AUDEUR charts

For much of the week the Australian dollar significantly outperformed the Euro, driving the pair to highs of 0.6929 (lows of 1.4433) yesterday afternoon. That high was made in the immediate aftermath of the strong Australian employment report, but since then the EUR has managed to claw back some the lost ground to the AUD. The trigger for the EUR recovery was last night’s ECB meeting where, despite his best attempts, President Draghi couldn’t stop the Euro from reacting to the improving economic outlook. Immediate support comes in around 0.6825 and as long as the market holds above that level, the focus remains on the topside and further gains. A break below that support level however, may well signal a much bigger correct lower is developing.
The current interbank midrate is:    AUDEUR 0.6836    EURAUD 1.4631

The interbank range this week has been:    AUDEUR 0.6768 – 0.6929    EURAUD 1.4433 – 1.4776

View AUDEUR charts

The Australian dollar was one of the best performing currencies last week and as such its gains against the Euro should be no major surprise. That being said, gains for the pair stalled at the 0.6840 level which marks the high from back on 20th June. After two failed attempts at that level we have seen the cross drift a touch lower overnight to now trade at 0.6790. This week should be a big one with plenty of potential volatility. From Australia we have the RBA minutes this afternoon the employment data on Thursday. While from Europe we have the ECB meeting on Thursday night to digest.

Current Level Support Resistance Last week’s range
AUD/EURO 0.6785 0.6760 0.6840 0.6651 – 0.6837
EURO/AUD 1.4738 1.4620 1.4793 1.4627 – 1.5035

View AUDEUR charts

The Australian dollar has had a good week making significant gains across the board. The EUR was matching those gains early in the week, but over the past 36 hours EUR selling has seen the cross rate surge. Once the pair broke above minor resistance around 0.6690 it been largely one way traffic to the topside. Last night it traded to a high of 0.6799 and it’s currently consolidating not far below that level. For the time being the risks are skewed to further gains with the target been a test of 0.6840.
The current interbank midrate is:    AUDEUR 0.6782    EURAUD 1.4746

The interbank range this week has been:    AUDEUR 0.6634 – 0.6799    EURAUD 1.4707 – 1.5074

View AUDEUR charts

The Australian dollar has been losing ground to a resurgent Euro over the past few weeks. It’s been a messy sort of decline but the trend remains intact for the time being. It would take a move above 0.6705 to bring the downtrend into question. If that level was overcome the focus would turn to 0.6760. On the downside there is minor support around 0.6635 and then again at 0.6570.

Current Level Support Resistance Last week’s range
AUD/EURO 0.6673 0.6570 0.6760 0.6634 – 0.6754
EURO/AUD 1.4985 1.4793 1.5221 1.4807 – 1.5074

View AUDEUR charts

The Australian dollar has weakened vs the Euro. Now at 0.6645 after the RBA no change statement, support at 0.6600 may be tested next week.
The current interbank midrate is:    AUDEUR 0.6644    EURAUD 1.5051

The interbank range this week has been:    AUDEUR 0.6634 – 0.6754    EURAUD 1.4807 – 1.5074

View AUDEUR charts

The AUD continues to make ground on this cross, is now around 0.6751 and is gradually grinding higher, providing no RBA surprises today , look for a move towards the 0.6800+ level over the week.

Current Level Support Resistance Last week’s range
AUD/EURO 0.6735 0.6700 0.6900 0.6668 – 0.6810
EURO/AUD 1.4848 1.4493 1.4925 1.4683 – 1.4996

View AUDEUR charts

An up/down week for this cross with the AUD now at 0.6733 Euro after 0.6812-0.6668 range over the week. We look for the AUD to track back over 0.6850 next week.
The current interbank midrate is:    AUDEUR 0.6725    EURAUD 1.4869

The interbank range this week has been:    AUDEUR 0.6668 – 0.6810    EURAUD 1.4683 – 1.4966

View AUDEUR charts

Choppy trading on this pair, has come from 0.6838 last week to 0.6787 currently , looks to be slightly on the back foot against the EUR, but look for a move back towards 0.6810/20 over the coming few days.

Current Level Support Resistance Last week’s range
AUD/EURO 0.6785 0.6740 0.6900 0.6750 – 0.6836
EURO/AUD 1.4739 1.4493 1.4837 1.4629 – 1.4815

View AUDEUR charts

Now at 0.6803 the Australian dollar looks on-course to push to 0.6850 Euro later in the week as the EUR marks time. The better Aussie data has provided good AUD rally since the beginning of June and it should continue to support in the near term.

Current Level Support Resistance Last week’s range
AUD/EURO 0.6803 0.6700 0.6900 0.6713 – 0.6821
EURO/AUD 1.4699 1.4493 1.4925 1.4661 – 1.4896

View AUDEUR charts

Solid gains for the AUD on this cross now at 0.6814 up from 0.6708 at the start of the week..next stop looks to be 0.6900 last seen a over a month ago…
The current interbank midrate is:    AUDEUR 0.6804    EURAUD 1.4697

The interbank range this week has been:    AUDEUR 0.6708 – 0.6816    EURAUD 1.4671 – 1.4908

View AUDEUR charts

The Australian dollar continues to remain strong on this cross, now at 0.6755 with immediate resistance at 0.6770. That level may well be seen after Thursday’s FOMC is out of the way.

Current Level Support Resistance Last week’s range
AUD/EURO 0.6751 0.6700 0.6770 0.6625 – 0.6755
EURO/AUD 1.4812 1.4771 1.4925 1.4804 – 1.5095

View AUDEUR charts

The AUD has strengthened on this cross, now at 0.6702 and if the ECB is unchanged tonight a move towards 0.6750 is likely heading into next week.
The current interbank midrate is:    AUDEUR 0.6699    EURAUD 1.4928

The interbank range this week has been:    AUDEUR 0.6570 – 0.6745    EURAUD 1.4827 – 1.5220

View AUDEUR charts

Now at 0.6622 after a low of 0.6572 last Friday, poor Aussie data will undermine AUD rallies but Thursday’s ECB meeting is a market mover….a maintenance of the status quo by the ECB will help the AUD but tomorrow’s Aussie GDP if poor will hamstring further AUD advances.

Current Level Support Resistance Last week’s range
AUD/EURO 0.6624 0.6540 0.6700 0.6567 – 0.6698
EURO/AUD 1.5096 1.4925 1.5291 1.4930 – 1.5227