AUD/USD maintains uptrend above 50-DMA – Societe Generale

AUD/USD remains supported above its 50-DMA, with positive momentum pointing to further upside toward 0.6685 and beyond. Short-term support holds near 0.6500, Societe Generale's FX analysts report.

AUD eyes next targets at 0.6685 and 0.6720

"AUD/USD reclaimed the 50-DMA in April resulting in a steady up move. Recent pullbacks have found support around this MA highlighting prevalence of upward momentum. This is also denoted by the daily MACD, which remains anchored within positive territory."

"The pair looks poised to continue its up move. The next objectives are located at 0.6685 and projections of 0.6720/0.6765. The MA at 0.6500 is a short-term support."