A snippet from SG on the Australian dollar. I was particularly interested in what they had to say about the 0.7300 area
Turns out, not a lot.
Ah well.
Société Générale nominates resistance levels:
- 0.7385/0.7400
- 0.7430
- 0.7486/0.7500
Support:
- .7140/35
- 0.7165
- 0.7220/15
AUD/USD has tentatively probed the graphical support of 0.7140/0.71 which represents the lows of May / December 2016. In case of definite break below, next objective will be at the lows formed in January 2016 at 0.6825 which is the potential of a double top too. 0.7385 is first layer of resistance while 0.7486/0.75 should be key.
