The Aud/USD continues to show resilience, quickly recovering the lost terrain after a brief fall below its 50 -day mobile average and is now looking towards a break in its range held for a long time. The support sustained in 0.6450 could pave the way for additional profits towards key objectives, the Société currency analysts indicate Générale.
The support at 0.6450 is key to the next Aussie upward movement
“The aud/USD recovered the 50 -day SMA in April and has experienced a gradual upward movement. The recent setback resulted in a brief break below the MA, but the torque has quickly recovered highlighting the prevalence of the bullish momentum.”
“The AUD/USD is now trying to break over the upper limit of its range of several months. The defense of the MA in 0.6450 can lead to an extension of the upward movement. The next objectives are found in projections of 0.6630/0.6650 and 0.6720.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
