FxWirePro: AUD/USD edges lower as risk appetite sours on Geopolitical woe

• AUD/USD edged lower     as investors continued to assess developments in the Middle East and their potential impact on global markets.

• Iranian attacks on Kuwait ‌damaged its airport and injured dozens on Wednesday while the U.S. military carried out strikes near the Strait of Hormuz, straining a shaky ceasefire and dimming hopes for a diplomatic halt to the war..

•   The United States announced that Lebanon and Israel had agreed to a ceasefire, financial markets remain skeptical about the durability of the arrangement.

• On the data front, Australia's balance on goods trade swung back into surplus ​in April after a surprise ‌deficit the month before, data showed on Thursday, as a rebound in ​resource exports helped offset a ​surge in fuel imports.

The Australian ⁠Bureau of Statistics reported the ​balance on goods recorded a surplus ​of A$1.8 billion ($1.28 billion) in April, bang in line with market forecasts. March ​had seen the first deficit ​since 2017 at A$1.0 billion..

•  Immediate resistance is located at 0.7171 (SMA 20), any close above will push the pair towards 0.7221(May 15th high).

•  Support is seen at 0.7112 (38.2%fib) and break below could take the pair towards 0.7086(Lower BB).

 Recommendation: Good to sell around 0.7130  with stop loss of 0.7180  and target price of 0.7080