AUD/USD to race higher toward the 0.7090/0.7130 area – SocGen AUDUSD Banks
AUD spearheads G10 gains. Economists at Société Générale expect the AUD/USD pair to extend its advance towards the 0.7090/0.7130 region.“AUD/USD has broken out above its recent consolidation zone denoting resumption in up move. It has overcome the 200DMA first time since giving it up in April last year; this affirms persistence in upward momentum.”
“The pair is expected to inch higher gradually towards 0.6980 and last August high of 0.7090/0.7130. This could be next potential resistance zone.”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.
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