AUD/USD breaks out of multi-month range – Société Générale
View all comments(0)
AUD/USD has broken out of its recent range, with support around 0.6650–0.6720 holding the key for continued upward momentum, Société Générale's FX analysts note.
Uptrend momentum signals further gains for AUD/USD
"AUD/USD has recently broken out of its multi‑month range highlighting possibility of extension in its uptrend. The December high and the recent pivot low at 0.6720/0.6650 is likely to act as short‑term support. Defence of this zone may lead to further upside."
"The daily MACD remains anchored in positive territory, indicating prevalence of upward momentum. AUD/USD appears poised to head higher gradually towards next projections at 0.6855/0.6870, and perhaps even towards the 2024 high near 0.6940."
Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.
Like
Recommended Articles
Featured Tools
Top News
Alphabet (GOOGL) Week Review: EU Hit, Gemini Delays, Earnings Wednesday

Korean Stocks See Deep V-Shaped Recovery After Opening Plunge, Samsung and SK Hynix Strongly Turn Losses to Gains

Tesla (TSLA) Q2 Earnings Wednesday — 480K Deliveries, 7.6% Options Swing

Intel (INTC) Q2 Earnings Thursday; Up 163% YTD, Options Price 15% Swing

Crude Oil Price Forecast: Worsening US-Iran Tensions Support Oil Prices Breaking Above $90, Can Brent Crude Return to $100?




Comments (0)
Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.