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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.
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