AUD/USD achieves 0.8060/0.80, 2010 lows target - SocGen

FXStreet (Bali) - Prior to its current rebound towards 0.81, AUD/USD broke below a multiyear channel, notes Societe Generale Technical Strategy Team, achieving the bank's advocated target of 0.8060/0.80, 2010 lows.

Key Quotes

"AUD/USD broke below a multiyear channel and has achieved our advocated target of 0.8060/0.80, 2010 lows. Monthly RSI is testing a multiyear graphical floor suggesting 0.80 as a key level. Only a decisive close below will indicate possibility to extend the correction."