Free Trial

AUD/EUR: Breaches 20-Day EMA

AUD

AUD/EUR was pressured on Tuesday after a dovish 25bp hike from the RBA on Tuesday, the pair breached its 20-Day EMA (€0.6019) before support and in ahead of the €0.60 handle and losses were pared.

  • On Wednesday we sit at €0.6010/15, ~1.1% below Monday's high.
  • 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 €0.6078 (high from 6 Nov), this opens the €0.61 handle and the 200-Day EMA (€0.6128).

To read the full story

Close

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.