AUD/USD traded up to 0.6327 early Asia after closing Friday -0.24% at 0.6313

Risk assets came under pressure and AUD/USD gave back gains easing to 0.6310

Dalian iron ore fell 3.30% while AXJ equity index eased 0.55%

Trading was quiet with Hong Kong and New Zealand on holiday

Support is @ 0.6385/0,6300 - as that widow held 6 of last 14 trading days

A break below 0.6285 targets the 2022 trend low at 0.6170

AUD/USD trending lower with the 5, 10 & 21-day MAs in a bearish alignment

Resistance is at the 55-day MA at 0.6412 and break would suggest a bottom is in place

Bias is for lower while investors stay defensive due to Middle East concerns nL1N3BS0M3

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