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May 03 - 08:55 PM

AUD/USD - Opens Higher As Attention Turns To The Fed

By John Noonan  —  May 03 - 06:55 PM
  • AUD/USD opens +0.62% after getting a boost from larger than expected RBA hike nL2N2WV05D

  • It filled gap from 0.7090 to 0.7148 and then chopped between 0.7080/0.7130

  • Hourly support is at 0.7080 and break targets yesterday's 0.7047 low

  • Resistance is at 0.7145/50 where yesterday's high and 10-day MA converge

  • A break above 0.7150 would suggest bottom is forming and trend lower is done

  • Aus retail sales for March out today and unlikely to be a market mover

  • Consolidation ahead of FOMC likely for the AUD/USD in immediate-term

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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