Societe Generale’s Kenneth Broux has identified a short-term uptrend in the Australian Dollar against the US Dollar (AUD/USD), citing the pair’s defense of its 200-day moving average (DMA) and a pattern of higher highs and higher lows on the daily chart [1]. The recent advance in AUD/USD has stalled near the 100-DMA, currently at 0.7053, but Broux notes that a hawkish hold by the Reserve Bank of Australia (RBA) could trigger further short covering and propel the currency higher [1].
Key upside targets for AUD/USD are projected at 0.7120, with additional resistance at the June highs near 0.7200 and 0.7275 [1]. On the downside, the 200-DMA, currently near 0.6920, is highlighted as an important support level, having previously provided a floor during a pullback in November 2025 [1].
The article underscores the significance of the upcoming RBA decision, suggesting that a hawkish stance could be a catalyst for renewed buying interest in the Australian Dollar [1]. No specific market reactions or analyst opinions beyond Societe Generale’s technical outlook are provided in the source [1].
CONCLUSION
Societe Generale’s analysis points to a constructive technical outlook for AUD/USD, with key resistance levels in focus and the RBA’s policy stance seen as a potential catalyst. The market is watching the 200-DMA for support and the 0.7120 level as the next upside objective.