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May 10 - 07:55 PM

AUD/USD - Opens Lower After Drooping Through US Afternoon

By John Noonan  —  May 10 - 06:22 PM
  • AUD/USD opens 0.20% lower after Wall Street fell and key commodities slipped nL1N2MX2E8nL1N2MX1H7

  • Pair fell through US afternoon after peaking at 10-week high at 0.7891

  • It may trade with heavy tone in Asia as the EM ETF (EEM) fell 1.79%

  • Fall from 0.7891 validates 76.4 of 0.8007/0.7532 at 0.7895 as key resistance

  • Support @ former resistance @ 0.7815/25 and break targets 10-day MA @ 0.7778

  • AUD/USD trending higher with 5, 10 and 21-day MAs in bullish alignment

  • Only a break below the 10-day MA would suggest the trend in waning

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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