Free Trial

AUD/EUR: Consolidating Gains Above  €0.60 Handle

AUD

AUD/EUR is consolidating its recovery from cycle lows above the €0.60 handle, narrow ranges have persisted for the most part in recent dealing.

  • In early dealing on Thursday we sit at €0.6045/50, ~3% above August's cycle lows.
  • Bulls now look to target the high from Aug 1 at €0.6115 and the 200-Day EMA which comes in at €0.6166. A break through here opens the high from 15 June at €0.6310.
  • On the downside bears focus on the 20-Day EMA (0.6015), a break of the measure opens 5 Sep low (€0.5919) and cycle lows (€0.5863).
  • Due in ~3 hours we have August CPI figures from Australia, a rise of 5.2% Y/Y is expected. Further out German Consumer Confidence Crosses.

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.