Overall, AUD/USD is trending downwards. Recently, AUD/USD bounced off the support zone of 0.73300.

The Australian flash PMI data released earlier today indicated a return to the contraction level of the services sector while the manufacturing sector slowed in June due to the renewed COVID restrictions caused by the spread of Delta variant.

  • Flash Manufacturing PMI (Actual: 56.8, Forecast: NA, Previous: 58.6 revised from 58.4)
  • Flash Services PMI (Actual: 44.2, Forecast: NA, Previous: 56.8 revised from 56.0)

Currently, AUD/USD is testing to break above the key level of 0.74. Its next support zone is at 0.73300 and the next resistance zone is at 0.75000.
Look for short-term selling opportunities of AUD/USD if it bounces down from the key level of 0.74.

Be sure to follow me on Twitter at @jdtai and on TradingView at Jin_LCMSTraders for my latest post!


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By Jin Dao Tai

JinDao Tai is an Entrepreneur, Award-Winning Forex Coach & Trainer, International Speaker and Multi-Million Dollar Trader. Starting out his career as an economic & financial consultant in Australia, one day he decided to change his life and pivoted into multiple entrepreneurship endeavours and eventually into managing a multi-million dollar portfolio.

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