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Free AccessAUD/EUR: Breaches 200-Day EMA, €0.61 Handle On Tuesday
AUD/EUR fell ~0.7% as a neutral RBA hold weighed on the pair yesterday, the 200-Day EMA (€0.6109) and the €0.61 handle were breached.
- In early trade this morning we sit at €0.6065/70.
- Bears now look to target the 20-Day EMA (€0.6040), a break through here opens the €0.60 handle the €0.5937, low from Oct 23.
- On the upside Bulls look to break the 200-Day EMA. From here they can target the high from 4 Dec (€0.6147), the €0.62 handle and €0.6310, the high from 15 June.
- A reminder that Australia Q3 GDP crosses this morning, Y/Y GDP growth is expected to moderate to 1.9% Y/Y from 2.1% Y/Y.
To read the full story
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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.