AUD/USD Outlook (31 March 2020)
Overall, AUD/USD is trending downwards. Recently, AUD/USD tested but failed to break the support level of 0.60700.
Earlier today, the released Chinese manufacturing and non-manufacturing PMI data indicate that both sectors are back in expansion for the month of March.
AUD/USD’s next support level is at 0.60700 and the next resistance level is at 0.63236.
With the positive outlook of the manufacturing and non-manufacturing sectors in China, look for short-term buying opportunities of AUD/USD while noting that the key level of 0.62 is nearby.
Earlier today, the released Chinese manufacturing and non-manufacturing PMI data indicate that both sectors are back in expansion for the month of March.
AUD/USD’s next support level is at 0.60700 and the next resistance level is at 0.63236.
With the positive outlook of the manufacturing and non-manufacturing sectors in China, look for short-term buying opportunities of AUD/USD while noting that the key level of 0.62 is nearby.