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Resistance At €0.61


A recovery from month to date lows in AUD/EUR was capped at the €0.61 handle yesterday, the pair has firmed ~1% off July lows printed on Wednesday as the AUD outperformed after a strong labour market report yesterday.

  • AUD/EUR last prints at €0.6085/90, and is a touch lower in early dealing this morning and remains well within the €0.60/62 range which has persisted for the most part since May.
  • Bulls first look to break the 20-Day EMA (€0.6103) from here they can target €0.6159 the high from July 15. The 200-Day EMA comes in at €0.6276.
  • On the downside bears look to break below Wednesday's low (€0.6023) which opens up year to date lows at €0.5959. €0.5867 the 50% retracement of the 2020-2022 Bull leg is the next downside support level.

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