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AUD/EUR: Unable To Sustain Breach 20-Day EMA

AUD

AUD/EUR has firmed back above the €0.60 handle but has not been able to sustain breaches of the 20-Day EMA (€0.6024) in recent dealing.

  • On Thursday the cross sits at €0.6010/15.
  • Technically AUD/EUR remains in a downtrend. Bears now target a break of the €0.60 handle which opens the low from 76.4% retracement of the Aug-Sep bull leg (€0.5925), the YTD low (€0.5863) and €0.5758 a Fibonacci projection.
  • On the upside bulls immediate focus is on the 20-Day EMA, a break through here opens high from 10 Oct (€0.6080) and the high from 29 Sep (€0.6127). The 200-Day EMA comes in at €0.6147.

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