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May 09 - 07:55 PM

AUD/USD - Opens Slightly Lower After Risk Assets Ease

By John Noonan  —  May 09 - 06:35 PM
  • AUD/USD opens -0.28% after USD edged higher and risk assets slipped lower nL1N376351nL1N376377

  • AUD/USD topped out Tuesday at 0.6786 just ahead of the 100-day MA at 0.6791

  • More resistance is at the April 14 trend high at 0.6808

  • AUD/USD buyers are tipped between 0.6740/50 where support has formed

  • More support is at 0.6695/0.6700 where 10 & 21-day MAs converge

  • A break below 0.6695 would reverse recent pressure to the upside

  • AUD/USD likely to consolidate ahead of US CPI later today

  • Stock and bond market reaction to US CPI will determine AUD/USD direction

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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