AUD/USD Outlook (22 July 2021)
ByJin Dao Tai
JUL 22, 2021
Overall, AUD/USD is trending downwards.
The Australian Retail Sales m/m data (Actual: -1.8%, Forecast: -0.6%, Previous: 0.4%) released yesterday indicated a decline in consumer spending mainly driven by the resumption of lockdown in Victoria and New South Wales.
The Australian flash PMI data will be released tomorrow at 0700 (GMT+8).
- Flash Manufacturing PMI (Forecast: NA, Previous: 58.6 revised from 58.4)
- Flash Services PMI (Forecast: NA, Previous: 56.8 revised from 56.0)
Currently, AUD/USD is testing the support zone of 0.73300 and the next resistance zone is at 0.75000.
Look for short-term selling opportunities of AUD/USD if it breaks the support zone of 0.73300.
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