Australian Dollar: Deeper pullback risk below 0.7140 – Societe Generale
Societe Generale analysts, including Kenneth Broux, note AUD/USD is under pressure after failing to hold its 50‑day moving average and forming a pattern of lower highs and lows. The pair must reclaim 0.7140 to avoid a deeper decline, with downside technical objectives around 0.6890 and 0.6830, while fundamentals are driven by iron ore and US real rates.
Key resistance at 0.7140 caps upside
"AUD/USD has formed a series of lower highs and lower lows on the daily timeframe chart, signaling the onset of a short-term pullback."
"It failed to defend the 50-DMA and has carved out an interim low around 0.6980."
"Failure to cross 0.7140 may lead to persistence in decline."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRPL surpasses Ethereum in tokenized commodity market cap with $2.2 billion inflow
Bessant Reiterates "Debt Reduction" Tune, Market Observers: Vision Is Not a Plan
U.S. Treasury Secretary Yellen stated that sustained GDP growth of over 3% would help lower the debt-to-GDP ratio. Market participants believe that with high deficits, economic growth alone cannot fundamentally resolve the issue. To achieve Yellen's goal of reducing the deficit to 3% of GDP, U.S. economic growth would need to reach 4.5%. Furthermore, the decision-making power over fiscal policy lies with Congress, not the Treasury Department.
Mysten Labs, Google Cloud Unveil Verifiable Agent Arbiter for AI Agents
Bitcoin steady near $86,000 as S&P 500, Nasdaq reach new record highs
Crypto prices
More
