AUD/USD risks declining further – Societe Generale

AUD/USD downtrend has stalled after reaching 0.6080 in February. It has evolved within a base however a breakout from this consolidation is crucial for confirming a larger up move, Societe Generale's FX analysts report.

0.6185/0.6165 and 0.6080 are next short-term supports

"The pair recently failed to overcome the upper limit of its range near 0.6410 resulting in a pullback. If it fails to cross last week high of 0.6330, there could be a risk of continuation in decline. Last month low of 0.6185/0.6165 and 0.6080 are next short-term supports."