AUD/USD opened flat at 0.6805/10 after late Wall Street rally underpinned

US low was 0.6782 - just ahead of 38.2 of Oct/Feb move at 0.6780

USD was offered early Asia and AUD/USD traded up to 0.6824

Buyers were encouraged by 0.6780 holding during US session

Heading into the afternoon it is trading around 0.6810/15

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

A break above the10-day MA at 0.6881 would ease downward pressure

A break below 0.6780 would likely accelerate the trend lower

Key today will be investor reaction to the US PCE inflation data

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