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fxJul 6, 2026, 1:39 PM

AUD/USD Tests Key Support at 200-DMA, Rebound Risk – SocGen

Societe Generale notes AUD/USD is testing major support at the 200-day moving average near 0.6870/0.6830 after breaking below the May trough at 0.7070, warning of rebound risk from this zone.

AUDUSD

Societe Generale analysts highlight that AUD/USD has extended its pullback, breaking below the May low near 0.7070 and now retesting the 200-day moving average at 0.6870/0.6830. This zone also aligns with March lows. The analysts emphasize this as key support, noting that a similar correction in November 2025 held at this area. They caution that the weakness may be overdone, suggesting a rebound risk.

Source: FXStreet Forex News