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Mixed Outlook On Key Crosses, CPI In Focus

AUD
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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.

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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.

Keep reading...Show less