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The Australian Dollar (AUD) retraces its recent gains on Wednesday despite the improved preliminary Purchasing Managers Index (PMI) from Australia, released on a monthly basis by Judo Bank and S&P Global.
The Australian Dollar (AUD) edges higher on Tuesday after registering losses in the previous session.
The AUDUSD pair is at a strong resistance zone. What’s next?
Sellers won’t just let go. Extra weakness hurt the Aussie dollar and motivated AUD/USD to extend the negative performance for the second session in a row on Tuesday, exacerbating the gloomy start of the new trading week.
The Australian Dollar (AUD) hovers around a psychological level at 0.6600 on Monday amid market uncertainty driven by discussions between the United States (US) and the United Kingdom (UK) on intensifying actions against Iran-backed Houthi terrorists in Yemen.