AUD/USD to inch increased steadily in the direction of final August excessive of 0.7090/0.7130 – SocGen

AUD/USD has damaged into 0.70 deal with for the primary time since August. Economists at Société Générale count on the pair to move towards the 0.7090/0.7130 area.

Defending 0.6830 essential for additional up transfer

“AUD/USD has overcome the 200DMA first time since giving it up in April final yr; this affirms persistence in upward momentum.”

“Defending the Transferring Common at 0.6830 could be essential for additional up transfer.”

“The pair is predicted to inch increased steadily in the direction of final August’s excessive of 0.7090/0.7130. This might be the subsequent potential resistance zone.”