AUD/USD to race higher toward the 0.7090/0.7130 area – SocGen

Market news

9 January 2023

AUD/USD to race higher toward the 0.7090/0.7130 area – SocGen

AUD spearheads G10 gains. Economists at Société Générale expect the AUD/USD pair to extend its advance towards the 0.7090/0.7130 region.

Support 0.6830, resistance 0.6980

“AUD/USD has broken out above its recent consolidation zone denoting resumption in up move. It has overcome the 200DMA first time since giving it up in April last year; this affirms persistence in upward momentum.”

“The pair is expected to inch higher gradually towards 0.6980 and last August high of 0.7090/0.7130. This could be next potential resistance zone.”

“Defending 0.6830 would be crucial for persistence in up move.”

Currencies. Daily history for Monday, January 9, 2023

Commodities. Daily history for Friday, January 6, 2023

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.