AUD/USD holds key 200-DMA support – Société Générale

AUD/USD has found support near the 200-day moving average at 0.6440/0.6410, pausing its recent decline, Société Générale’s FX analysts note.

AUD/USD eyes multi-month trend break

“AUD/USD has defended the 200-DMA near 0.6440/0.6410 in recent pullback; this is a key support zone. The decline has paused after this test and the pair appears to be evolving within a base.”

“A brief rebound is likely however it will be interesting to see if the pair can overcome the multi-month descending trend line near 0.6630. Break beyond this hurdle is crucial for confirming a larger up move.”