FXstreet.com (Sydney) - The EUR gained on the AUD after the pair opened 1.5976 and rose to an intraday high of 1.6016. The pair has since been trading in a narrow band around 1.6000 and finds support at 1.5960 and resistance at 1.6500.

In Australia however, the RBA has left open the possibility of further rises but it remains unclear on the timing. The RBA also felt it prudent over time to gradually reduce fiscal support. Given that recent data from Australia points to a mixed basket, overall, the Australain economy is in relatively good shape and may pave the way for a further rate rise in December.

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