Brexit weighs on EUR,commodities support AUD

Written by

Michael McCarthy

CHIEF MARKET STRATEGIST

MicMcCarthy_CMC

Best in-house analyst award (dark version)

07 Aug 2018, 12:10

Stronger coal and iron ore prices are supporting the Australian dollar. AUD. Despite solid reads on PMIs from Germany, France and Italy, the Euro weakened against the AUD. The drop pushed it through key support at 1.5700, and the Fibonacci retracement levels point to an intitial move towards 1.5500. A breach there could bring a test of the May low around 1.5275

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