AUD/USD opened -0.59% at 0.7189 after rise in US yields supported USD

It traded 0.7193 early before drifting lower through the morning

Soft equities and report Shanghai COVID restrictions increasing weighed nL1N2XW019

AUD/USD fell to 0.7161 before buyers returned to give support

Heading into the afternoon it is trading 0.7175/80

Key support at 0.7105/10 where the 100-day MA converses with a 38.2 fibo

A break below 0.7100 would signal the short-term trend higher is over

Resistance is at the 200-day MA at 0.7155 and last week's 0.7282 high

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