#AUDUSD @ 0.64837 to tumble towards 0.61 on a dip under 0.6365 – SocGen
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The AUD/USD pair breached July lows of 0.6680 extending the decline towards the lower limit of a steep channel at 0.6365. Analysts at Société Générale highlight the next levels that the aussie could target.
“July trough of 0.6680 is expected to be a short-term resistance. Holding below this hurdle, the gradual downtrend could persist.”
“Below 0.6365, next potential supports are at projections of 0.6210 and 0.6100, the 76.4% retracement from 2020.”
See – AUD/USD: Little upside scope after dovish RBA – Commerzbank
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