Australian dollar rally stalls below 0.7283 resistance

6 articles · Updated · The Wall Street Journal · May 7

StoneX analyst Matt Simpson said the currency closed above $0.7200 on Wednesday but later surrendered about half its gains, last trading little changed at $0.7234.
He said bulls may wait for a pullback toward $0.7200 before opening fresh long positions in anticipation of another attempt on $0.7300.
In broader Asian trading, the yen consolidated after Japan's Golden Week holidays, with analysts saying possible official intervention could limit dollar-yen gains near the 157 level.

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