• Risk-on sentiment in place as US & Iran agree to halt war, open Strait of Hormuz

• USD safe-haven bid faded, US yields & oil

moved lower

• AUD/USD rallied away from 0.7036 overnight, pierced the 10-DMA, hit 0.7089

• The pair pulled back slightly, NY opened near 0.7075, was up +0.47% in early NY

• Gold , silver , stocks rallies helped AUD/USD hold onto gains

• AUD/USD's rally stalled near key resistance in the 0.7090-0.7110 zone

• Rising daily RSI, move above 10-DMA, daily cloud base give bulls some comfort

• Monthly RSI still falling & pair still below 21- & 55-DMAs; are concerns for bulls
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)