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
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Source:
Refinitiv IFR Research/Market Commentary