AUD/USD risks declining further – Societe Generale
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Societe Generale's FX analysts suggest the AUD/USD currency pair is at risk of continued downward movement. The pair has been consolidating after reaching 0.6080 in February and failed to break above 0.6410. If it cannot surpass last week's high of 0.6330, there's a potential for further decline, with key support levels at 0.6185/0.6165 and 0.6080.
April 01, 2025 | 11:15 am
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The Invesco Australian Dollar ETF (FXA) may experience downward pressure based on Societe Generale's analysis of AUD/USD currency pair's potential decline.
As an ETF tracking the Australian Dollar, FXA's performance is directly correlated with AUD/USD exchange rate. Societe Generale's bearish outlook suggests potential downward pressure on the ETF.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80