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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 printed its highest level since 20 March in the aftermath of yesterday's US CPI report before paring gains as resistance was seen ahead of €0.63 to finish Tuesday's session a touch lower.
- The pair now sits at €0.6270/75, and has firmed ~5.3% off cycle lows seen in late April.
- Bulls now target a break of the high from 13 June €0.6296 which opens the 200-Day EMA (€0.6322). The 76.4% retracement of the Jan-Apr bear leg comes in at €0.6413.
- Bears look to target low from 9 June (€0.6209), from here they look to break the 20-Day EMA (€0.6189) to turn the tide.
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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