AUD/USD: Failure to reclaim 0.6780/0.6850 could trigger another down leg – SocGen AUDUSD Banks
AUD/USD idles around 0.6650. If the pair fails to surpass 0.6780/0.6850, the decline is set to persist, analysts at Société Générale report.“AUD/USD has experienced a steady decline after forming a Head and Shoulders near peak of last August at 0.7130/0.7170. Neckline of the pattern at 0.6780/0.6850 is a short-term resistance zone. If the pair fails to overcome 0.6780/0.6850, the decline could extend.
“Below 0.6550, next potential supports are at 0.6400, the 76.4% retracement from last October and 0.6310.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/USD Price Analysis: Bears ready to pounce while front side of trendAs per the prior analysis, AUD/USD Price Analysis: Bears in the market, chipping away into key support, where the focus was on the downside, we have i
Read more »
AUD/USD: Mildly bid around mid-0.6600s amid cautious optimism, Australia/US inflation in focusAUD/USD: Mildly bid around mid-0.6600s amid cautious optimism, Australia/US inflation in focus – by anilpanchal7 AUDUSD Inflation RiskAversion RBA Fed
Read more »
AUD/USD Price Analysis: Rising wedge confirmation teases bears below 0.6680 previous supportAUD/USD Price Analysis: Rising wedge confirmation teases bears below 0.6680 previous support AUDUSD Technical Analysis SwingTrading ChartPatterns SupportResistance
Read more »
AUD/USD finds hurdles around 0.6660 amid mixed responses on the US banking systemAUD/USD has faced immense pressure after a gradual recovery to near 0.6660 in the early European session. The Aussie asset has sensed meaningful offer
Read more »
AUD/USD: No changes to the consolidative outlook – UOBAUD/USD is still seen trading between 0.6565 and 0.6760 for the time being, according to Economist Lee Sue Ann and Markets Strategist Quek Ser Leang a
Read more »
6 Reasons Tim Burton's Alice Sequel Was Such A FailureWhile Tim Burton's Alice in Wonderland made over $1 billion, the sequel somehow bombed and made $700 million less, but the writing was on the wall.
Read more »