The Australian Dollar (AUD) continues to gain ground on the third successive session after improved Judo Bank Purchasing Managers Index (PMI) data released on Thursday.
Australian Dollar gains ground on improved domestic economic data on Thursday. Australia’s Judo Bank Services and Composite PMIs improved to 54.4 and 53.3, respectively, in March. US Dollar receives downward pressure due to lower US Treasury yields. The Australian Dollar continues to gain ground on the third successive session after improved Judo Bank Purchasing Managers Index data released on Thursday.
6596, in conjunction with the psychological level of 0.6600. A breakthrough above this level could lead the AUD/USD pair to explore the area around the major level of 0.6650 and March’s high of 0.6667. On the downside, Immediate support is seen around the major level of 0.6550 and the 14-day Exponential Moving Average of 0.6543. A break below the latter could exertdownward pressure on the AUD/USD pair to approach the psychological level of 0.6500.
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