AUD/USD Outlook (23 July 2020)

Overall, AUD/USD is trending upwards. Recently, AUD/USD trended higher and bounced off the resistance zone of 0.71800.

The Australian flash PMI data will be released tomorrow at 0700 (SGT).

• Flash Manufacturing PMI (Forecast: NA, Previous: 51.2 revised from 49.8)
  
• Flash Services PMI (Forecast: NA, Previous: 53.1 revised from 53.2)
  

AUD/USD’s next support zone is at 0.69800 and the next resistance zone is at 0.71800.
With the current weakness of USD, look for buying opportunities of AUD/USD.