AUD/USD faces immediate resistance at the 55-DMA of 0.7163 – OCBC

AUD/USD stays quiet above 0.7100 after rising decisively on Monday. Analysts at OCBC spots immediate resistance at the 55-day moving average (DMA) at 0.7163. 

AUD benefitted from an upcoming relaxation of border controls and firm data

“AUD/USD saw upside impetus on the back of the quarantine-free travel announcement and a set of firmer than expected retail sales data on Monday.”

“Near-term prospects for the pair is choppy at best.”

“Immediate resistance at the 55-DMA (0.7163), against first support at 0.7050.”