Free Trial
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 has rallied ~2% off cycle lows seen in early March, the 20-Day EMA ($0.6299) has capped gains in recent dealing.
- Rate differentials, observed via 2-year swap rates, have eased recently, from -27bps, the peak observed on the 7 March to -60bps, which has likely helped cap upside in the cross.
- Bulls look to target a break of the 20-Day EMA ($0.6299), from there the 50% retracement of Jan-Mar bear leg at $0.6361 presents as the next target.
- On the downside is $0.6169, the 2023 low, then $0.60 round number support are the targets for bears.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok