AUD/USD needs to establish beyond 0.6900 to extend its move higher – SocGen AUDUSD Banks
“AUD/USD has staged the expected uptrend after breaking out of a small base in November. It has faced resistance near its falling 200DMA at 0.6900. This was fourth attempt of crossover since May for the pair; establishing itself beyond 0.6900 is essential for affirming continuation in up-move.”
“A short-term consolidation is not ruled out; upper end of recent base at 0.6520 is near term support. In case this gets violated, a deeper down move is likely towards 0.6340, the 76.4% retracement of the bounce and 0.6170/0.6100.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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