AUD/USD Outlook (19 February 2021)

Overall, AUD/USD is ranging across.

The Australian flash PMI data released earlier today indicated a slight slowdown in the expansion of business activities in February.

• Flash Manufacturing PMI (Actual: 56.6, Forecast: NA, Previous: 57.2)
  
• Flash Services PMI (Actual: 54.1, Forecast: NA, Previous: 55.6 revised from 55.8)
  

Also, the Australian retail sales m/m data (Actual: 0.6%, Forecast: 2.1%, Previous: -4.1%) released indicated a recovery from previous month’s decline in consumer spending although the recovery was lower than expected.

Currently, AUD/USD is moving towards the resistance zone of 0.77900 the next support zone is at 0.76000.
Look for buying opportunities of AUD/USD if it breaks the resistance zone of 077900.