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
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Source:
Refinitiv IFR Research/Market Commentary