AUD/USD continues to show resilience, quickly regaining lost ground after a brief dip below its 50-day moving average and is now eyeing a breakout from its long-held range. Sustained support at 0.6450 could pave the way for further gains toward key upside targets, Société Générale's FX analysts note.
Support at 0.6450 key for Aussie’s next leg higher
"AUD/USD reclaimed the 50-DMA in April and has experienced a gradual up move. Recent pullback did result in a brief break below the MA, but the pair has quickly rebounded highlighting prevalence of upward momentum."
"AUD/USD is now attempting a breakout above the upper limit of its multi-month range. Defence of the MA at 0.6450 can lead to an extension in up move. Next objectives are located at projections of 0.6630/0.6650 and 0.6720."
Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.
Related Articles
[Reuters Breakingviews] ‘Big Beautiful Bill’ portends vast ugly costs
WASHINGTON, July 1 (Reuters Breakingviews) - Donald Trump just won the most Pyrrhic of victories. The Republican-controlled Senate on Tuesday narrowly passed the U.S. president’s budget proposal, misleadingly dubbed the “One Big Beautiful Bill.” It mortgages the country’s future ...Reuters
5 hours ago
Should You Buy Microsoft Stock Now or Wait for a Dip?
Shares of Microsoft (NASDAQ: MSFT) are up 18% this year (returns as of June 27), and that has pushed the stock to a new all-time high. It's been a traditionally safe stock to own, but it's definitely expensive these days, trading at around 38 times its trailing earnings.The Motley Fool
5 hours ago
Why Nike Stock Raced Ahead Today
Athletic apparel and footwear star Nike (NYSE: NKE) notched a stock market victory for its investors on Tuesday with a more than 3% increase in share price.The Motley Fool
5 hours ago
Humanoid Robot Market: Development, Prospect, Supply Chain, and Stocks to Watch
TradingKey - Having missed out on NVIDIA in the AI hardware field and failed to keep up with Palantir in the AI software field, those looking to continue riding the AI wave may find humanoid robots—the "best carriers of AI"—to be the next explosive track. Almost everyone is predicting that 2025 ...TradingKey
22 hours ago
Prediction! Federal Reserve Chairman Jerome Powell's Next Move Will Be an Interest Rate Cut
The Federal Reserve must balance the risks of higher inflation with the risks of higher unemployment when making decisions on interest rates.Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »*Stock prices used were..The Motley Fool
Thu, Jun 26
Tradingkey
