Free Trial

AUD/EUR: Breaches €0.60 Handle

AUD

The impact of the RBA's dovish hike continues to weigh on the AUD, AUD/EUR breached the €0.60 handle on Wednesday and is now down ~1.7% from its pre-RBA levels.

  • We sit at €0.5975/80 the lowest level since late 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 (€0.6012) and €0.6078 (high from 6 Nov), this opens the €0.61 handle and the 200-Day EMA (€0.6126).

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.