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AUD/EUR: Closes Above 20-Day EMA


AUD/EUR had its strongest day since early June yesterday rising ~0.9%, and closing above the 20-Day EMA (€0.5958) which had presented as key resistance for bulls in recent dealing.

  • The pair is unchanged from opening levels today, last printing at €0.5980/85.
  • Bulls immediate focus is on the €0.60 handle, a break through the high from Aug 1 at €0.6115 and the 200-Day EMA comes in at (€0.6197).
  • On the downside bears now look to breach the 20-Day EMA to target 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.

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