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