#AUDUSD @ 0.66862 : 200-DMA at 0.6780/0.6850 likely to cap upside – SocGen
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The AUD/USD pair has seen an initial rebound but a hurdle awaits at the 0.6780/0.6850 area, analysts at Société Générale report.
“An initial bounce is taking shape; the 200-Day Moving Average at 0.6780/0.6850 could cap upside. Failure to cross this resistance could mean persistence in decline.”
“Below 0.6550, next potential supports are at 0.6400, the 76.4% retracement from last October and 0.6310.”
See: AUD/USD to climb back sustainably above 0.70 in the second half of 2023 – ING
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