AUD/USD: Sell the rallies near 0.7900/20 - SocGen

Analysts at Societe Generale offer their technical outlook for trading the AUD/USD pair in the near-term.

Key Highlights:

“Rebound in AUD/USD petered out near our advocated level of 0.7990.

It has now almost reached our first downside objective at 0.7650.

Short term, a choppy recovery has taken shape however 0.79/0.7920 should contain it.

The multi-month trend at 0.7570/0.7480 remains a significant support.”