AUD/USD has staged a gradual restoration from final month’s lows and is now testing the 200-day shifting common, with a breakout above February highs close to 0.6410 seen as essential for unlocking additional upside towards 0.6550 and past, Société Générale’s FX analysts word.
AUD/USD targets 0.6550 if uptrend persists
“AUD/USD has skilled a gradual rebound after forming a low close to 0.5910 final month. It’s now making an attempt a cross above the 200-DMA. It’s price noting that the pair failed to ascertain past this MA in November and regularly resumed its section of decline.”
“Defence of February highs close to 0.6410 might be essential for persistence in up transfer. Subsequent targets may very well be positioned at 0.6550 and projections close to 0.6640/0.6665.”
