Overall, AUD/USD is trending downwards. Recently, AUD/USD moved into the resistance zone of 0.75500.

Reserve Bank of Australian Assistant Governor Ellis will be speaking later at 1115 (GMT+8).
During this time, there may be volatility in AUD.

The Australian Flash PMI data released earlier today indicated a slowdown in the pace of expansion of business activities in June.

  • Flash Manufacturing PMI (Actual: 58.4, Forecast: NA, Previous: 60.4 revised from 59.9)
  • Flash Services PMI (Actual: 56.0, Forecast: NA, Previous: 58.0 revised from 58.2)

Currently, AUD/USD is testing the resistance zone of 0.75500 and the next support zone is at 0.73900.
Look for short-term selling opportunities of AUD/USD if it fails to break the resistance zone of 0.75500.


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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