AUDUSD trading scalping
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Australian Dollar declines due to increased risk aversion, awaits US Services PMI
The Australian Dollar declines following the soft Purchasing Managers Index data release on Monday. Australia Composite PMI fell to 49.9 in July from 50.2 in June, with Services PMI decreasing to 50.4 from 51.8. The US Dollar lost ground as recent downbeat employment data boosted expectations of a Fed rate cut in September.
BUY AUDUSD now zone 0.64300-0.64100
↠ Stoploss 0.63900
→ Take Profit 1 0.64600
→ Take Profit 2 0.65300
The Australian Dollar declines following the soft Purchasing Managers Index data release on Monday. Australia Composite PMI fell to 49.9 in July from 50.2 in June, with Services PMI decreasing to 50.4 from 51.8. The US Dollar lost ground as recent downbeat employment data boosted expectations of a Fed rate cut in September.
BUY AUDUSD now zone 0.64300-0.64100
↠ Stoploss 0.63900
→ Take Profit 1 0.64600
→ Take Profit 2 0.65300
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AUD/USD jumps toward 0.6550, with focus on Chinese trade data
AUD/USD extends the rebound toward 0.6550 in the Asian session on Wednesday, in the wake of Tuesday's hawkish hold by the RBA. This, along with signs of stability in the financial markets underpins the Aussie. The focus remains on China's trade data and the Fed sentiment.
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