AUD/USD: Momentum favours extension to 200-DMA at 0.6592 – SocGen

AUD/USD powers to a three-month high. Economists at Société Générale analyze the pair’s outlook. 

Establishing foothold above 0.65

AUD/USD is not giving up on recouping 0.65 after another decent attempt to finish the week above last Friday’s level despite ongoing concerns about housing in China.

The decline in US yields means the currency has not had a better chance to exit the three-month range and challenge the 200-Day Moving Average (DMA) at 0.6595.

See – AUD/USD: Extra upside in store in the short term – UOB