By John Noonan — May 08 - 06:30 PM
AUD/USD opens 0.46% higher - as the AUD gained against most major currencies nL1N37520K
Rising commodity prices underpinning AUD as global growth concerns ease nL1N3750FXnL1N3750AV
AUD/USD traded to 0.6804 to break 100-day MA (0.6790), but closed below
Rally capped ahead of the April 14 trend high at 0.6808
A break above 0.6810 targets the 50% of the 0.7158/0.6564 move at 0.6861
Support is at the 21-day MA at 0.6693 and break eases upward pressure
Australia Q1 retail sales out today with the market looking for -0.60%
Unlikely to be a market mover unless well outside expectations
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary