- Analytics
- News and Tools
- Market News
- AUD/USD drifting towards the 0.6300 level – SocGen
AUD/USD drifting towards the 0.6300 level – SocGen
AUD/USD drifts to 11-month low on RBA hold. Economists at Société Générale analyze the pair’s outlook.
Regaining downward momentum
AUD/USD has experienced multiple attempts of rebound since August however it has consistently failed to reclaim the hurdle at 0.6525 which is also the 50-DMA. Break below lower limit of recent range denotes regain of downward momentum.
The pair is now drifting towards potential objective of 0.6300 representing the trend line connecting lows of March and May. There is risk of a deeper downtrend if it struggles to cross above previous range limit at 0.6370.
Next projections are located at 0.6200/0.6170.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
