AUD/USD holds key support at 0.6410 – Société Générale
Source Fxstreet
AUD/USD bounced off the August lows at 0.6410 and reclaimed its 200-day moving average, signaling short-term bullish potential, Société Générale's FX analysts note, Société Générale's FX analysts note.
AUD reclaims 200-DMA amid consolidation
"AUD/USD defended the key graphical support of 0.6410 representing the lows of August and quickly reclaimed the 200-DMA. It is in vicinity to the descending trend line drawn since 2021 at 0.6600, which is an interim hurdle."
"If the pair establishes beyond this resistance, a short-term uptrend is likely. The next objectives could be located at September high of 0.6685/0.6710. Recent pivot low of 0.6410 is a key support."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Musk says Tesla could hit $100 Trillion, but needs "enormous work"Elon Musk acknowledged over the weekend that getting Tesla to a $100 trillion company value would demand massive effort and fortune. The statement came after investors suggested this sky-high number could happen if his various businesses merge together. Right now, Tesla sits at $1.5 trillion in market value. Getting to $100 trillion would mean multiplying […]
Elon Musk acknowledged over the weekend that getting Tesla to a $100 trillion company value would demand massive effort and fortune. The statement came after investors suggested this sky-high number could happen if his various businesses merge together. Right now, Tesla sits at $1.5 trillion in market value. Getting to $100 trillion would mean multiplying […]
Lyn Alden says the Federal Reserve is likely entering a gradual phase of money printing rather than aggressive stimulus.
Global interest in crypto is at a year-long low, with Google searches dropping as the market cap falls 43%.
Arthur Hayes, the co-founder of BitMEX, suggested that institutional dealer hedging is exacerbating the recent downward pressure on Bitcoin prices.In a February 7 post on X, Hayes pointed to structure
BitMine, the largest corporate holder of Ethereum, has capitalized on the digital asset’s recent price volatility to expand its treasury holdings.On February 7, blockchain analysis platform Lookonchai
Related Instrument
