FX

AUD/USD to suffer a substantial drop on a break below 0.6990 – SocGen

AUD/USD has rebounded after revisiting November 2020 levels of 0.6990. However, the bounce is set to run out of steam ahead of the 0.7250 level. Economists at Société Générale warn that a break below 0.6990 would imply a deeper down move.

Upside limited

“A large upside is not envisaged; daily Kijun line at 0.7250 should contain.”

“In case 0.6990 breaks, there would be a risk of deeper downtrend.”

Articles You May Like

How To Make $500+ a Day Trading Cryptocurrency / Forex (The Real Way)
Market Structure Confluence to Master Order Block Alerts | FOREX TRADING STRATEGY
Japan PM Kishida: Coronavirus response is government’s highest priority
It is make or break time for oil
CARA TRADING FOREX DARI NOL | TUTORIAL TRADING FOREX UNTUK PEMULA

Leave a Reply

Your email address will not be published. Required fields are marked *