AUD/USD: Risk of one more down leg while holding below 0.6525 – SocGen
AUD/USD has staged an initial soar after probing multi-month descending line approach 0.6360. 0.6525 is first hurdle, analysts at Société Générale file.
Failure to reclaim 0.6525 can location off original selling
AUD/USD has just no longer too long ago fashioned an period in-between assist at 0.6360 as it touched the road connecting lows of March and May possibly perchance well presumably. An initial soar is taking form on the other hand signals of a gargantuan upside are no longer yet visible.
Contemporary pivot high at 0.6525 is predicted to be first layer of resistance approach term.
Conserving under 0.6525, there would be inconvenience of 1 extra down leg. Subsequent attainable assist is found at projections and October 2022 low of 0.6200/0.6170.
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