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May 03 - 07:55 PM

AUD/USD - Opens Slightly Higher As US Banking Woes Limit Upside

By John Noonan  —  May 03 - 06:20 PM
  • AUD/USD opens just 0.11% higher, but underperformed on crosses

  • USD broadly fell after Fed left door open for pause after 25 bp hike nL1N36Z2C8

  • AUD/USD traded as high as 0.6702 - but eased when Wall Street fell

  • Late AUD/JPY selling on report PacWest Bancorp seeking a sale

  • PacWest shares collapsed over 50% in the after hours on the news

  • US banking crisis likely to dominate action in the Asian session

  • AUD/JPY vulnerable for more losses after falling 1.30% Wednesday

  • AUD/USD breached the 21-day MA - but failed to close above that reading

  • The 21-day MA comes in at 0.6678 with resistance at the 200-day MA at 0.6730

  • Buyers are tipped ahead of 0.6620 - with stops eyed below that level

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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