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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 continues to firm after printing cycle lows in late April, we now sit ~3.5% above these levels last printing at €0.6165/70. The 20-Day EMA has been comfortably breached and we are holding above the measure.
- The pair rose yesterday printing its highest level since 5 April before marginally paring losses. Technical flows in EUR/USD weighed on the single currency as recent lows were broken.
- Bulls now target a break of €0.62, which opens up the 200-Day EMA (€0.6368).
- Bears look to test year to date lows (€0.5959). From here €0.5867 the 50% retracement of the 2020-2022 Bull leg is the next downside support level.
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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