AUD/USD holds key 200-DMA support – Société Générale
Source Fxstreet
AUD/USD has found support near the 200-day moving average at 0.6440/0.6410, pausing its recent decline, Société Générale's FX analysts note.
AUD/USD eyes multi-month trend break
"AUD/USD has defended the 200-DMA near 0.6440/0.6410 in recent pullback; this is a key support zone. The decline has paused after this test and the pair appears to be evolving within a base."
"A brief rebound is likely however it will be interesting to see if the pair can overcome the multi-month descending trend line near 0.6630. Break beyond this hurdle is crucial for confirming a larger up move."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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