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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 is consolidating a touch off cycle lows, 2023 lows were retested yesterday but support was seen and €0.6150 is holding for now.
- Since breaking below €0.62 last week the round number is presenting as resistance and capping rallies in recent dealing.
- Bulls look to sustain a break of €0.62, from here they can target the 20-Day EMA (€0.6242) and March highs at €0.6306.
- Bears look to target €0.60, round number support.
- The next risk event for the cross is Australian retail sales for February. An increase of 0.2% is expected, down from the prior read of +1.9%.
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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