AUD/USD Outlook (24 August 2021)
Overall, AUD/USD is trending downwards. Recently, AUD/USD strengthened and moved into the resistance zone of 0.72200.
The Australian Flash PMI data released yesterday indicated a slowdown in business activities from the manufacturing sector while the services sector remained in contraction in August.
Currently, AUD/USD is testing the resistance zone of 0.72200 and the next support zone is at 0.70400.
Look for short-term selling opportunities of AUD/USD if it bounces off the resistance zone of 0.72200.
The Australian Flash PMI data released yesterday indicated a slowdown in business activities from the manufacturing sector while the services sector remained in contraction in August.
- Flash Manufacturing PMI (Actual: 51.7, Forecast: NA, Previous: 56.9 revised from 56.8)
- Flash Services PMI (Actual: 43.3, Forecast: NA, Previous: 44.2)
Currently, AUD/USD is testing the resistance zone of 0.72200 and the next support zone is at 0.70400.
Look for short-term selling opportunities of AUD/USD if it bounces off the resistance zone of 0.72200.