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Sep 06 - 05:00 PM
AUD/USD: The Level To Watch Is 0.7160/40 - SocGen
First appeared on eFXplus on Sep 06 - 02:50 PM

Societe Generale discusses AUD/USD technical outlook and highlights the significance of the key support around 0.7160-40. 

"AUD/USD breached the lows of July after which the down move has started extending. It is now closing in on the graphical levels of 0.7160/40 which is also the 76.4% retracement from 2016.

This should be a near term support. In case this gives way, there will be a risk of a larger correction towards 0.71/0.7030 first," SocGen argues. 

Source:
Société Générale Research/Market Commentary

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