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May 10 - 07:55 PM

AUD/USD - Opens Modestly Higher After Softer US CPI

By John Noonan  —  May 10 - 06:55 PM
  • AUD/USD opens +0.24% after rising on softer than expected US CPI nL1N3771ED

  • Fall in US yields helped push AUD/USD to fresh 7-wwek high at 0.6818 nL1N3772SB

  • AUD/USD gave back some gains as copper eased and Dow gave back early gains nL1N3770Y7

  • AUD/JPY selling also helped to cap AUD/USD gains

  • AUD/USD resistance is at the 50% of the 0.7158/0.6564 move at 0.6874

  • Support is at the 10-day MA at 0.6712 and 21-day MA at 0.6702

  • FX market still in holding pattern awaiting fresh catalyst nL1N3772UB

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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