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

Market news

20 November 2023

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

EUR/GBP loses ground after German PPI, trades lower around 0.8750

Greece Current Account (YoY) down to €-0.404B in September from previous €0.498B

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