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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 bulls were again unable to clear the 20-Day EMA yesterday, the measure is now presenting as key upside resistance, before pressure in the NY session saw the pair fall ~0.6% from peak to trough.
- The pair is little changed from opening level in early dealing today, last printing at €0.5925/30.
- Bulls look to sustain a break of the 20-Day EMA (€0.5950) which opens the €0.60 handle and the high from Aug 1 at €0.6115. The 200-Day EMA comes in at €0.6199.
- The pair remains in a downtrend, bear's focus is on a break of cycle lows (€0.5863). This opens the low from May 4 2020 (€0.5815), low from April 8 2020 (€0.5631) and €0.5595 a Fibonacci projection.
Fig 1: 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.
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