AUD/USD opens -0.21% after USD was supported by rise in US yields nL1N36M1WP

Slip in key commodity prices also a drag on the AUD nL1N36M0QF

AUD/USD price action continues to pivot around the 10 & 21-day MAs

They converge at 0.6701 today and a close below adds to downward pressure

Sellers around 0.6750 continue to discourage attempts higher

Resistance is at the 100-day MA at 0.6799 and close above would be bullish

AUD/USD likely to range trade as market awaits a fresh catalyst

Hawkish RBA message starting to fade as support - as global yields rise

Bond markets continue to price in a global slowdown and market risks nL8N36G5M1nL8N36L0CC

Pessimistic outlooks would be very negative for AUD in medium-term

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