EUR/AUD can’t seem to make new 2024 highs. Will the recent rejection at 1.6625 lead to the pair hitting its range support?
I don’t know if you’ve noticed but commodity-related currencies like AUD and NZD did NOT have a strong start this week.
Meanwhile, EUR extended its gains as the lack of fresh Fed speakers discouraging interest rate cuts highlighted the European Central Bank’s (ECB) relatively hawkish stance.
EUR/AUD, which started the week at the 1.6460 inflection point, flew all the way to the 1.6625 zone.
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