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AUD/EUR: Consolidating Above 20-Day EMA

AUD

AUD/EUR has consolidated above the 20-Day EMA (€0.6040) in recent dealing, as the recovery from mid-August cycle lows continues.

  • In early dealing on Wednesday we sit at €0.6060/65.
  • Bulls immediate focus is on the high from 10 Oct (€0.6080). A break through here opens the high from 29 Sep (€0.6127), the 200-Day EMA comes in at €0.6156.
  • On the downside bears look to break the 20-Day EMA and the low from 9 Oct (€0.6004). This opens the low from 76.4% retracement of the Aug-Sep bull leg (€0.5925) and the YTD low (€0.5863).
  • The docket is thin Australia today, further out we have the final print of September CPI from Germany and ECB 1 and 3-Year Inflation Expectations.

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