(Adds chart)

• AUD marginally softer, tracking the broader risk-off tone, with the SPX down around 0.3%

• Spot has stalled ahead of 0.7200, but the broader technical setup remains constructive

• Firm gold prices should provide an element of underlying support, although gold has eased from the highs

• Initial support is seen at 0.7100-10, coinciding with the 200-hour moving averages

• The 200-hour MAs have guided the uptrend since August, making a hold here important for bulls

• A sustained break below 0.7100 would weaken the setup and point to a more neutral near-term tone

• On the topside, 0.7200 remains the key resistance and bullish trigger
AUDUSD


(Justin McQueen is a Reuters market analyst. (The views expressed are his own) ((Email: ))