AUD/USD has damaged above a descending development line and the highest of its multi-month vary, signaling renewed upside momentum. A pullback towards 0.6650 might provide assist, with beneficial properties probably extending towards 0.6855–0.6940, Société Générale’s FX analysts notice. .
AUD regains momentum above 200-DMA
“AUD/USD efficiently defended its 200-DMA in November and progressively broke above a descending development line, triggering a gradual upward transfer. The pair has now surpassed the higher boundary of its multi-month vary, signalling a resurgence in upward momentum.”
“If a short pullback happens, the latest pivot low close to 0.6650 may function short-term assist. The subsequent aims may very well be positioned at 0.6855/0.6870, adopted by the 2024 excessive at 0.6940.”
