AUD/USD: Unlikely to break the recent 0.65-0.69 range any time soon – SocGen

Market news

1 August 2023

AUD/USD: Unlikely to break the recent 0.65-0.69 range any time soon – SocGen

AUD/USD does not look set to break out any time soon, in the view of Kit Juckes, Chief Global FX Strategist at Société Générale.

Aussie has had a merry two days

AUD has had a merry two days; a pre-RBA short-covering rally being wiped out by RBA inaction.

If both RBA and Fed are ‘done’ for this cycle, I can’t really see the recent 0.65-0.69 range breaking any time soon.

See – AUD/USD: A big beat in NFP may accelerate move towards the YTD low of 0.65 – TDS

USD/CAD consolidates at elevated levels around 1.3250 amid upbeat US Dollar

The risks skew negatively for GBP – TDS

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