With the ECB outclassing the RBA last night, lifting interest rates by 75bps versus 50bps, you’d think that Euro would be soaring against the Pacific Peso. A recent breakout towards the 1.50 handle is only after Euro bottomed at 1.42 against the Aussie for a five year low:
The Euro/Aud cross has short term potential up to the previous support, now resistance level at the pre-Ukraine invasion point at the 1.53 zone broken in February.
Similarly, the Aussie remains strong against Yen, which has fallen tremendously against not only USD, but other majors like Euro:
But nothing it seems can save the Aussie versus King Dollar as interest rate expectations for the Federal Reserve far outweigh even the hawks at Martin Place, now at a two year low on the weekly chart:
