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AUD/EUR: Narrow Ranges Continuing

AUD

AUD/EUR sits a touch off the top of the €0.5950/0.6020 range which has been observed in recent dealing. There has been little follow through on moves as the lack of tier 1 Australian/Eurozone data limits activity.

  • The pair last prints at €0.6005/10.
  • Bulls immediate focus is on holding above the €0.60 handle which opens €0.6078 (high from 6 Nov), and the 200-Day EMA (€0.6113).
  • Technically the pair remains in a downtrend, bears now target the 20-Day EMA (€0.5997), the 76.4% retracement of the Aug-Sep bull leg (€0.5925), the YTD low (€0.5863) and €0.5758 a Fibonacci projection.

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