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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 is consolidating after recovering off lows seen late in December 2022. The pair has held above €0.64, however resistance has come in at the 100-Day EMA (€0.6484).
- The technical outlook looks mildly bearish with the cross still trading below its 100 and 200-day EMAs. The cross is holding above its 20-day and 50-day EMAs as the tide may be turning for bulls.
- Bulls look to target a break above the 100-day EMA at €0.6484, to target the 200-day EMA at €0.6531.
- Bears first target a break of 20-day EMA at €0.6421, opening up the Dec 2022 low at €0.6259.
AUD/JPY is around ~5.5% higher from December 2022 lows, with the 200-day EMA providing resistance in recent dealing.
- The technical picture looks mixed, the cross is above key EMAs however is struggling to break clear of its 200-day EMA.
- Bulls first target a break of round number resistance at ¥92, to open the high from December 2022 at ¥93.35.
- Bears look to the 50-day EMA at ¥91.15, then the 20-Day EMA at ¥90.38.
Quarterly and Monthly CPI data from Australia tomorrow provides the next risk event. The Bloomberg survey looks for a Q4 headline print of 1.6%, with the YoY expected at 7.6%.
Fig 1: AUD/EUR Daily Spot, EMAs
Fig 2: AUD/JPY Daily Spot, EMAs
Source: Market News International (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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