The aud/USD has starred a constant recovery since the minimum of last month and is now testing the 200 -day mobile average, with a break above February about 0.6410 considered critical to unlock a greater bullish potential towards 0.6550 and beyond, the foreign exchange analysts of I société générale.
The aud/USD points to 0.6550 if the upward trend persists
“The Aud/USD has experienced a constant rebound after forming a minimum of about 0.5910 last month. It is now trying to cross over the 200 -day SMA. It is worth noting that the pair failed to settle beyond this mobile average in November and gradually resumed its decline phase.”
“The defense of the maximum of February about 0.6410 will be crucial for persistence in the upward movement. The next objectives could be located at 0.6550 and projections about 0.6640/0.6665.
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.
