AUD/USD opened -0.91% at 0.6621 as banking crisis fears returned nL1N35N32J

AUD/USD had a tepid rally when SNB provided liquidity for ailing Credit Suisse nL1N35O02Y

E-minis rallied around 0.50% and the AUD/USD moved up to 0.6643

Rally was aided by better than expected Aus employment data nAZN14POW2

The rally faded when Aus futures market ignored data

Market now pricing in no more hikes and RBA cut around mid-year

Reaction to SNB backstop for Credit Suisse tepid

AUD/USD fell back below 0.6620 heading into the afternoon

AUD/USD will likely struggle due to uncertainty and global growth concerns nL4N35N4SV

Support at 61.8 of 0.6170/0.7158 at 0.6547 is first target if it moves lower

Resistance is at the 21-day MA at 0.6726 and break would ease pressure

Key today will be bond market reaction to SNB move and ECB decision

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