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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.
AUD
Improving risk sentiment on Friday saw AUD/EUR continue to recover from cycle lows, bulls have held above the 20-Day EMA as the pair printed its highest level since April 21.
- We now sit ~3% above cycle lows seen late in April at €0.5959, the 20-Day EMA had been a key resistance for bulls to clear since breaking below the measure in February.
- Bulls now target a break of €0.62, which opens up the 200-Day EMA (€0.6371).
- 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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