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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 sits a touch off its lowest level since 4 May after yesterday's Australian CPI print was softer than forecast, breaking support at the low from June 1 €0.6072.
- The pair fell ~0.9% on Wednesday and last prints at €0.6045/50.
- Bears look to break below the €0.60 handle opening up year to date lows at €0.5959. €0.5867 the 50% retracement of the 2020-2022 Bull leg is the next downside support level.
- Bulls first look to breach the €0.61 handle which opens the 20-Day EMA at €0.6158.
- On tap this morning we have May Retail Sales from Australia, a rise of 0.1% is expected.
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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