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AUD/EUR: Supported At 20-Day EMA

AUD

AUD/EUR was pressured yesterday, ticking lower through the session before support came in at the 20-Day EMA (€0.6038) in late NY trade.

  • This morning we sit a touch above the measure however ranges have been narrow thus far.
  • On the downside bears look to break the 20-Day EMA and the low from 9 Oct (€0.6004). This opens the low from 76.4% retracement of the Aug-Sep bull leg (€0.5925) and the YTD low (€0.5863).
  • Bulls immediate focus is on the high from 10 Oct (€0.6080). A break through here opens the high from 29 Sep (€0.6127), the 200-Day EMA comes in at €0.6155.

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