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May 08 - 05:55 AM

AUD/USD - Testing Key Resistance And Eyes Big Levels Above

By Peter Stoneham  —  May 08 - 05:20 AM
  • Aussie trending higher and testing the 100DMA, currently 0.6790

  • April's 0.6808 high the next level of resistance

  • Daily cloud top and key 50% Fibo bull targets above: 0.6861-62 respectively

  • AUD/USD hits a three-week high at 0.6786 following last week's 2.0% rally

  • Fall-out from a hawkish RBA still underpinning the AUD

  • Support runs in at 0.6729, the 200-day moving average

  • AUD likely to remain buoyant while optimism remains high for soft landing

  • U.S. banking stress and upcoming debt ceiling drama are the risks

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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