Extending its previous session's rally, the European currency rose back above the key 1.27 mark against the Australian dollar in early deals on Thursday.
The euro rose to a 3-day high of 1.2708 against the aussie before leveling off around 5:10 am ET.
The euro-aussie pair reversed previous two-days' correction in an uptrend with 1.2715 seen as the next likely resistance level in the near-term and 1.2810 seen as the medium term target.
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Forex News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.