EURAUD: Expecting ECB to be more hawkish than RBA this week

Where the ECB is being hawkish on rate hikes and has room for manoeuvre, the RBA is trying to be hawkish, but has less room due to low consumer sentiment / general backlash due to the increasing costs due to interest rates - it also seems as though inflation may have peaked, we'll find out soon enough if it's stabilising...

In terms of price action, we look to have broken a descending dynamic trendline and we're retesting, I then expect a move up to 1.563 to test this resistance in the coming week.

Trade closed: target reached