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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUD
AUD/EUR firmed ~0.8% yesterday, terminal rate expectations ticked lower in the wake of yesterdays ECB meeting weighing on the EUR.
- We sit on the 20-Day EMA (€0.6081), since breaking below the measure in February it has acted as resistance with AUD/EUR unable to sustain any breaks.
- Bulls look to break this key level opening up high from April 20 at €0.6165.
- Despite yesterdays rally the downtrend remains firmly in place, bears look to test year to date lows (€0.5959). From here €0.5867 the 50% retracement of the 2020-2022 Bull leg is the next downside support level.
Fig1: AUD/EUR Daily Spot, EMAs
Source: MNI/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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