Guys, we have a potential trade in AUD/USD, it is trading just above a support level of 0.7635 and consolidates in a trading range of 0.7670 – 0.7639 as we can see in the trading chart given below.
Volatility is still low, as traders await ISM Manufacturing PMI due today.

Fundamentals:

USD: ISM Manufacturing PMI
Previous: 49.4
Forecast: 50.4

We will see stronger Dollar if ISM Manufacturing PMI beats expectations and is likely to cause sell in AUDUSD.

Technical Levels:

S 0.7557 0.7588 0.7607
Pivot: 0.7639
R: 0.7670 0.7689 0.7721

Recommendation:
Before News:
Good to Buy Below 0.7647
SL: 0.7635 TP: 0.7665

After News: Better Than Expected ISM Manufacturing
Good to Sell Below 0.7670
SL: 0.7675 TP: 0.7645

One thought on “SCALP ALERT AUDUSD– Trade US ISM Manufacturing PMI”

  1. only ingthend says:

    Thanks Arslan
    your analysis are always perfect and very easy to understand even for beginners. please keep sharing your ideas, Appreciate!!!

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