AUDUSD: Potential to reach 0.6461 on a break under 0.6757 – Credit Suisse

AUD/USD is still holding Credit Suisse’s prior technical objective at 0.6757. However, their analysts stay short-term bearish and see the potential to reach 0.6461 in due course.

Aussie is still attempting to break below 0.6757

“Support stays at the the 50% retracement of the 2020/21 rise at 0.6757, a break below which is needed to enable a further downside to 0.6643 and 0.6609/00, with potential to reach the next key support at the 61.8% retracement at 0.6461 in due course.” 

“We look for near-term strength to ideally remain capped below the recent price highs at 0.6964/95. Above here would see scope to reach next resistance at the 55-day moving average at 0.7038.”