Société Générale technical analysis on the Australian dollar
- 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.
- Multi month trend at 0.7570/0.7480 remains a significant support.
