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- AUD/USD: Larger uptrend likely on a break past 0.6660 – SocGen
AUD/USD: Larger uptrend likely on a break past 0.6660 – SocGen
AUD/USD is set for a retest of multi-year trend line at 0.6600/0.6660, economists at Société Générale report.
0.6450 should cushion downside
Daily MACD has crossed above the equilibrium line after posting positive divergence; this denotes a regain of upward momentum.
The pair is expected to inch higher towards the 200-DMA near 0.6600/0.6660 which is also the trend line drawn since 2022. This could be an important hurdle.
Recent pivot low at 0.6450 should cushion downside.
If AUD/USD establishes above 0.6660, a larger uptrend is likely.
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