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TDUX
May 06 - 07:55 PM

AUD/USD - Fails To Break Key Resistance On First Attempt

By James Connell  —  May 06 - 05:54 PM

• AUD/USD finishes Wed +0.7% after reaching highest level since Jun 3, 2022

• 0.7280-85 resistance tough to break, but would trigger next leg higher

• Risk sentiment buoyant amid climbing hope for end to U.S.-Iran hostilities

• Iran reviewing formal proposal to end war but leaves key issues unresolved

• Iran's Ebrahim Rezaei says "closer to an American wish-list than to reality"

• AU Mar balance on goods due Thur, Reuters poll consensus 4.1 bln surplus

• U.S. Apr non-farm payrolls due Fri, Reuters poll consensus +62k

• Overnight range 0.7225-77, support 0.6834 0.6660, resistance 0.7283 0.7661
AUD Daily 55-DMA


AUD Weekly 52-WMA


(James Connell is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters
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