By John Noonan — May 01 - 06:50 PM
AUD/USD opened Asia with a bid tone and traded up to 0.7075 in early Asia
It has since settled around 0.7065 - up from Friday close at 0.7059
Early Asia not reacting to the weak China PMI released in the weekend nL3N2WQ18I
Much of Asia is out today on holiday so trading might be thin and light
AUD/USD may consolidate ahead of RBA decision tomorrow - which is live nL3N2WP2GS
Support is at last week's 3-month low at 0.7055 and break targets 0.6967
AUD/USD trending lower with the 5, 10 & 21-day MAs in a bearish alignment
A break above the 10-day MA @ 0.7209 would ease pressure and suggest bottom forming
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Source:
Refinitiv IFR Research/Market Commentary