AUD/USD: Failure to hold 0.7130 to open up December low of 0.6990 – SocGen

AUD/USD dribbles back below 0.72. A breach of 0.7130 would clear the way towards 0.7070 and December low of 0.6990, economists at Société Générale report.

0.7130 is first support

“AUD/USD has struggled to establish itself above the daily Ichimoku cloud (now at 0.7280) denoting lack of steady upside momentum.”

“Failure to hold 0.7130 can take the pair back towards 0.7070 and December low of 0.6990.”