AUD/USD to enjoy an extended uptrend on a break above 0.6660 – SocGen

AUD/USD closed above 0.66. Economists at Société Générale analyze the pair’s outlook.

Recent pivot low at 0.6450 likely to provide support

A retest of the trend line drawn since 2022 near 0.6660 is expected. Once this is overcome, AUD/USD could embark on an extended up move. Next potential objectives could be located at July/July highs of 0.6900.

Recent pivot low near 0.6450 is expected to provide support in case short-term pullback develops.

See – AUD/NZD: There is room for a to move back closer to the 1.1000 level – MUFG