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AUD/EUR: Prints Lowest Level Since May-2020 On Thursday

AUD

In the aftermath of yesterday's Australian Labor Market Report AUD/EUR printed its lowest level since May 2020, before finding support below €0.5867 the 50% retracement of the 2020-2022 Bull leg.

  • The pair finished dealing ~0.3% lower and last prints at €0.5885/90.
  • AUD/EUR remains in a strong downtrend, bears immediate focus is on a break of yesterday's lows (€0.5863). This opens the low from May 4 2020 (€0.5815), low from April 8 2020 (€0.5631) and €0.5595 a Fibonacci projection.
  • Bulls focus on regaining the €0.59 handle which opens the 20-Day EMA (€0.5974).
  • The docket in Australia is thin today. Further out the final print of Eurozone CPI is on the wires, a fall of 0.1% M/M is expected.

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