AUD/USD Price Analysis: Rebounds sharply as Aussie PMI remains upbeat AUDUSD DollarIndex PMI SupportResistance ChartPatterns
AUD/USD has shown some resilience above 0.6650 after the release of better-than-projected Aussie PMI data.
AUD/USD has formed an Inverted Head and Shoulder pattern, which advocates a bullish reversal after a long consolidation.has shown a recovery move after correcting to near 0.6650 in the Tokyo session. The Aussie asset has gained some strength despite a solid recovery in the US Dollar Index . In spite of a further delay in the US debt-ceiling negotiations, as a meeting between US President Joe Biden and House of Speaker Kevin McCarthy ended without an agreement, the USD Index has gained traction.
The USD Index has recovered its entire losses posted in early Asia but is facing barricades in extending its rally further.
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