AUD/USD opened +1.34% at 0.6784 after USD fell in the wake of soft PPI nL1N36G2C5

It traded to 0.6794 before sellers ahead of 0.6800 capped

Heading into the afternoon it is trading around 0.6785/90

USD remains weak as market prices in end of Fed tightening cycle

AUD/USD resistance is at the 100-day MA at 0.6800 where sellers tipped

A break above 0.6800 targets the 50% of the Feb-March fall at 0.6861

Support is at the 10-day MA at 0.6716 and 21-day MA at 0.6700

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