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AUD/EUR: Falls Below €0.61 Handle, Australia CPI On Tap

AUD

AUD/EUR has trimmed June’s gains and now sits little changed on the month having risen as much as ~4% mid month.

  • The cross has now fallen below the €0.61 handle dealing a touch under the figure this morning. The EUR has been buoyed by some moderately hawkish ECB re-pricing in recent sessions.
  • Bears target the low from June 1 €0.6072, a break through here opens €0.5959 the cycle low.
  • To turn the tide bulls look to break the 20-Day EMA at €0.6175.
  • On the wires in ~2.5 hours is May CPI print from Australia. A rise of 6.1% Y/Y is expected, the prior read was 6.8%.

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