AUD/USD bears push the pair below 0.7400 and target the 50-DMA around 0.7330s

amid the failure of peace talks, as the Ukrainian Foreign Minister Kuleba expressed that discussions at the Ministry level had not happened in weeks. The AUD/USD is trading at 0.7346 at the time of writing.Geopolitics keeps weighing on risk-sensitive currencies, like the Aussie. Also, mixed data from China, the second-largest worldwide economy and one of Australia’s biggest trading partners, reported that its economy grew for the Q1 by 4.

In the meantime, Fed speaking propelled the prospects of the greenback. Last week, the New York Fed President John C. Williams stated that a 50 bps rate increase is a reasonable option, but the rate hikes will depend on the economy’s path. Williams added that the Fed needs to move “expeditiously” to normal policy levels and a more neutral.

If that scenario plays out, the AUD/USD first support would be 0.7300. A brach of the latter would expose the 200-DMA at 0.7298 that intersects with the mid-line between the central/bottom. Pitchfork’s parallel lines, which once broken, would expose the 100-DMA at 0.7250.

Source: News Formal (newsformal.com)

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