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May 06 - 01:55 AM

AUD/USD - Little Changed After Whippy Asian Session

By John Noonan  —  May 05 - 11:40 PM
  • AUD/USD opened -1.9% at 0.7114 after USD surged on hawkish Fed outlook nL2N2WX23EnL2N2WX1NV

  • Early Asian buying sent AUD/USD to 0.7132 before reversing lower

  • Asian shares fell hard and USS/CNH broke higher to send AUD/USD to 0.7082

  • Buyers stepped in when markets settled and AUD/USD is back to 0.7110/15

  • AUD/USD vulnerable as risk assets remain unsettled

  • US payrolls today may push US yields and USD higher nL3N2WY04H

  • Resistance is at 10-day MA at 0.7121 and close above relieves pressure

  • Strong resistance is at 0.7265/85 where the 21-day and 200-day MAs converge

  • Support is at Monday's 0.7030 low and break targets 0.6967

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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