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AUD/EUR: 2-Week Low As Recent Falls Extend

AUD

AUD/EUR extended recent falls yesterday and now sits ~2% below Monday's opening levels as resurgent US Yields on Thursday saw the AUD underperform.

  • We sit at €0.5960/65 the lowest level since 26 October.
  • Technically the pair remains in a downtrend, bears now target the 76.4% retracement of the Aug-Sep bull leg (€0.5925), which opens the YTD low (€0.5863) and €0.5758 a Fibonacci projection.
  • Bulls now focus on a break of the 20-Day EMA (€0.6006) and €0.6078 (high from 6 Nov), this opens the €0.61 handle and the 200-Day EMA (€0.6125).

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