AUD/USD Outlook (21 May 2021)
ByJin Dao Tai
MAY 21, 2021
Overall, AUD/USD is ranging across.
The Australian flash PMI data released earlier today indicated little change in business activities in May.
- Flash Manufacturing PMI (Actual: 59.9, Forecast: NA, Previous: 59.7 revised from 59.6)
- Flash Services PMI (Actual: 58.2, Forecast: NA, Previous: 58.8 revised from 58.6)
Also, the Australian Retail Sales m/m data (Actual: 1.1%, Forecast: 0.5%, Previous: 1.3%) released indicated a slight slowdown in consumer spending in April.
AUD/USD’s next support zone is at 0.75500 and the next resistance zone is at 0.78000.
Look for short-term selling opportunities of AUD/USD.
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