Liu climbed into seven under at the Country Club of Charleston to share a one-stroke lead with Celine Boutier (69) in SC.
The two close friends are unexpected leaders, with Boutier missing the cut in her two previous U.S. Women's Open appearances, and Liu making her first start.
She and Liu, who forged their friendship when both played on the Duke University golf team that won the 2014 USA collegiate title, were tied on seven-under 206, one stroke in front of Americans Lexi Thompson and Jaye Marie Green and 36-hole leader Mamiko Higa of Japan.
"I think it's always good to have an experience of being in contention, being in the last pairing on the last round, and being able to win", said Boutier, who won for the first time on Tour at the ISPS Handa Vic Open in January.
The 25-year-old, who is ranked 49th in the world, kept a one-stroke lead from the first round when she shot the lowest debut round in tournament history: a six-under 65. On Saturday, though, she made two birdies and an eagle, with the eagle coming on the 522-yard 15th, thanks to a 240-yard, 3-wood second shot and a 30-foot putt.
Boutier built a two-shot lead with birdies at five, nine and 13 before a three-putt bogey at 14 dropped her into a tie for the lead.
Both Thompson, one of the longest hitters in the women's game, and Green shot 68 to move up the leaderboard.More news: James Holzhauer Is Close To Another One Of Ken Jennings’ ‘Jeopardy!’ Records
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Gina Kim, who shot a 72, and Celine Boutier, who was at four-under on the tournament with four holes to go in her round, were tied for third.
Aditi was one-over 143 and placed Tied-33rd as there were still many players yet to complete the round. But she gave away both those shots on third and fourth before getting another birdie on the ninth.
Indian golfer Aditi Ashok birdied three times on her second nine including the final hole to card an even par 71 and make the cut at the US Women's Open.
Kaymer kept it simple with birdies on each one of the par 5s, a tee shot to 10 feet on a unsafe right pin at the par-3 12th and a bogey on his final hole at Muirfield Village for a 4-under 68 that gave him a share of the lead with Troy Merritt (66) and Kyoung-Hoon Lee (67). Round 2 will resume on Saturday morning before the third round kicks off in threesomes after.
"Recovery is going to be the key, so I'm going to eat well and sleep well and recover well", she said.
Korda is seeking her first major championship win, but said that she is going to need some luck. Kupcho, the Augusta National women's amateur champion, is 1 over.
Players had to endure a two-hour weather delay, which included lightning striking a large elm tree along the 18th fairway.