The AUD/USD has starred in a remarkable recovery this month, exceeding key levels of resistance and pointing to a 200 -day mobile average test. A sustained upward break could indicate a broader bullish trend reversion, with 0.6550 targets and beyond, FX analysts of Société Générale point out.
The approach moves to the 200 code of 200
“The AUD / USD has experienced a rapid rebound after forming a minimum of about 0.5910 earlier this month. It has crossed the maximum of February / March and gradually heads towards the DMA of 200 in 0.6470. If the pair is established above the MA, a larger upward movement could form.”
“The next objectives could be placed at 0.6550, the 61.8% setback last year and 0.6640. The minimum of last week of 0.6270 is short -term support.”
Source: Fx Street
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