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May 09 - 01:55 AM

AUD/USD - Consolidates Recent Gains In Quiet Asian Session

By John Noonan  —  May 08 - 11:35 PM
  • AUD/USD opened +0.46% after outperforming due to strong commodities nL1N3750AV

  • It eased to 0.6770 at one stage before settling unchanged around 0.6780

  • There was no reaction to Aus Q1 retail sales which came in at expectations nAZN14XPXL

  • Resistance is at the 100-day MA at 0.6790 and April 14 high at 0.6808

  • A break above 0.6810 targets the 50% of 0.7158/0.6564 move at 0.6861

  • Support is at Monday's 0.6740 low and the 21-day MA at 0.6693

  • AUD will stay supported while global growth concerns ease

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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