Australian Manufacturing PMI is facing a drop
From a technical point of view, despite the current pull back, AUD/USD remains supported by a rising trend line. It also stands above its 50-day moving average (in blue) as the daily RSI stands within its buying area between 50 and 70. Readers may therefore consider the potential for a new advance above horizontal support at 0.6270. The nearest resistance would be set at previous overlap at 0.6685 and a second one would be set at set at 0.6850 in extension.
Source: TradingView, GAIN Capital