AUD/USD Holds Above 0.7240 as Soft US Wages Offset NFP Beat, Iran Tensions

AUD/USD traded around 0.7240 on May 8, holding gains after softer US average hourly earnings of 0.2% MoM offset a stronger-than-expected NFP of 115k versus 62k forecast, despite brief Iran hostilities boosting safe-haven USD demand. The rally originated on May 6 with multi-year highs near 0.7277-0.7280, fueled by US-Iran de-escalation hopes outweighing robust ADP payrolls of 109k, RBA's 25bp hike to 4.35%, and a break above 0.72 resistance. ING targets 0.75 year-end while DBS flags 0.73 hurdle; bullish technicals persist with RSI near 59 amid fragile risk sentiment.