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AUD/EUR: Lowest Level Since Mid-September


AUD/EUR was pressured after yesterday's US CPI print weighed on risk sentiment, the pair fell ~0.7% breaching the 20-Day EMA (€0.6030) and the €0.60 handle.

  • In early dealing on Friday we sit a touch below €0.60 at the lowest level in the cross since 14 September.
  • Bears now target the low from 76.4% retracement of the Aug-Sep bull leg (€0.5925), the YTD low (€0.5863) and €0.5758 a Fibonacci projection.
  • On the upside bulls focus on the 20-Day EMA, a break through here opens high from 10 Oct (€0.6080) and the high from 29 Sep (€0.6127).

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