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AUD/EUR: Breaches 200-Day EMA, €0.61 Handle On Tuesday

AUD

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.

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