AUD/USD is beneath stress after failing to interrupt resistance at 0.6545, with the pair now testing key help ranges that might decide the following leg of its development, Société Générale’s FX analysts notice.
Aussie fails at 0.6545, dangers deeper decline
“AUD/USD failed to beat the higher restrict of its current consolidation at 0.6545 leading to a pointy pullback. It has given up the 50-DMA and is approaching the decrease band of the vary close to 0.6340, which could possibly be an interim help.”
“A bounce can’t be dominated out nevertheless incapacity to cross 0.6545 could end in continuation of decline. Break beneath 0.6340 can result in a deeper down transfer in the direction of 0.6230, the 50% retracement from April and 0.6150.”
