Drawing on selected fragments, the author shows how Didier Anzieu analyses the three Freudian models of interpretation by identifying their links with the transference and the great movements of metapsychology. In the first model, “intellectualist” interpretation thwarts the misleading connections of primary and secondary processes. In the second, displacements of drive cathexes mobilise the countertransference. In the third, interpretation undoes the compulsion to repeat thanks to identification.