AUD/USD could witness further losses toward 0.6100 – SocGen

AUD/USD has breached below 0.6365, the lower limit of recent consolidation. Next supports are located at 0.6210 and 0.6100, economists at Société Générale report.

Signals of rebound are still not visible

“AUD/USD is probing a multi-month channel limit, however, signals of rebound are still not visible.” 

“Failure to reclaim 0.6365/0.6430 would mean persistence in decline. Next potential objectives are located at 0.6210 and 0.6100, the 76.4% retracement of the uptrend during 2020 and 2021.”

See: AUD/USD to extend its decline towards 0.6041 – Credit Suisse