Australian Dollar: Testing major support with rebound risk against US Dollar – Societe Generale
By FXStreet Insights Team
Updated: 6 Jul 2026
POPULAR ARTICLES
Societe Generale analysts describe AUD/USD extending its pullback after breaking below the May trough around 0.7070 and retesting the 200-DMA near 0.6870/0.6830, aligned with March lows. They stress this zone as key support, noting November 2025’s correction also held there.
Societe Generale analysts describe AUD/USD extending its pullback after breaking below the May trough around 0.7070 and retesting the 200-DMA near 0.6870/0.6830, aligned with March lows. They stress this zone as key support, noting November 2025’s correction also held there. With risk tone crucial, a short-term rebound is possible while 0.7070/0.7090 caps upside.
Key moving averages and range levels
"AUD/USD has experienced an extended pullback after breaking below the May trough around 0.7070."
"The pair has recently retested the 200-DMA around 0.6870/0.6830, which also coincides with the March lows."
"Notably, the correction in November 2025 found support near this MA."
"If AUD/USD defends the support zone around 0.6870/0.6830, a short-term rebound cannot be ruled out."
"The recent lower high near 0.7070/0.7090 may act as an important hurdle."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
More than a million users rely on FXStreet for real-time market data, charting tools, expert insights, and forex news. Its comprehensive economic calendar and educational webinars help traders stay informed and make calculated decisions. FXStreet is supported by a team of about 60 professionals, split between the Barcelona headquarters and various global regions.
Read More
