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May 31 - 07:55 PM

AUD/USD - Opens Modestly Lower After Choppy Month-End Session

By John Noonan  —  May 31 - 07:05 PM
  • AUD/USD opens 0.25% lower as higher US yields and soggy risk assets weighed nL1N2XN1L8nL1N2XN32Z

  • AUD/USD has formed a double-bottom around 0.7050 where bids are tipped

  • Resistance is at the 100-day MA at 0.7230 with sellers around 0.7200

  • Aus Q1 GDP is out today with market looking for +0.5% Q/Q and +2.9% Y/Y

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

  • A break below 10-day MA at 0.7122 and break would suggest weakening momentum

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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