Australian Dollar Forecast: Extra Gains Likely Above 200-Day SMA
AUDUSD holds a neutral-to-bullish bias while above the 200-day SMA near 0.6940, though overbought conditions could eventually trigger a technical reaction.
AUDUSD
The base case for the Australian dollar points to additional upside while spot remains above the 200-day simple moving average, currently around 0.6940. Above that level, the pair is expected to maintain a neutral-to-bullish stance.
The note also highlights that AUDUSD is approaching overbought territory, which carries the potential to eventually trigger a technical reaction. No further targets or timing details were provided in the update.
Source: FXStreet Forex News