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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.
AUD
AUD/JPY printed a year to date high yesterday, after the RBA's 25bps rate hike before marginally extending gains in the NY session as improving risk sentiment aided the pair.
- The cross now sits above the ¥93 handle, and at the highest level since mid-December last printing at ¥93.15/25.
- A Golden Cross has been observed as the 50-Day EMA has crossed the 200-Day EMA.
- Bulls first target ¥93.81, a Fibonacci retracement, a break through here opens ¥95 handle.
- Bears look to break low from June 6 (¥92.13), with the 20-Day EMA (¥91.66) the next target.
- RBA Gov Lowe is speaking at the moment however there has been little reaction in the AUD thus far. Deputy Gov Bullock crosses shortly at a panel discussion. In just under 2 hours Q1 GDP from Australia is due, a rise of 0.3% Q/Q is expected.
Fig 1: AUD/JPY Daily Spot, EMAs
Source: 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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