AUD/USD bounces from the monthly minimum, it remains firm above 0.6400 after mixed data of the US PMI.

• The AUD/USD is recovered from a minimum of one month about 0.6372 while the mixed data of the US PMIs cool the safe refuge flows towards the dollar.
• The PMI composed of the US Global S&P falls slightly; Manufacturing remains stable, while services weaken but exceed expectations.
• The aud/USD bounces from a key support about 0.6400; A daily closure above 0.6450 could open the way to 0.6500–0.6550.

The Australian dollar (AUD) reverses the above losses and advances against the US dollar (USD) on Monday, since operators reassess the safe refuge flows after the United States (USA) launched attacks against Iran during the weekend. The initial hurry towards the dollar pushed Aussie at a minimum of one month before a mixed data batch of the US Purchase Management Index (PMI) helped to moderate the demand of the US dollar.

The AUD/USD is currently quoting around 0.6426 at the time of writing these lines, during the American session, having erased most of its intradic losses and now lowering approximately 0.38% in the day. The pair bounced strongly from a session minimum of 0.6372, finding a tail wind since the last American PMIs failed to provide a decisive impulse to the US dollar.

The US data painted a slightly softer tone, the PMI composed of Global S&P fell to 52.8 in June from 53 in May, hinting at a slight loss of impulse while still marks more than two years of expansion. The manufacturing PMI remained stable in 52, in line with the maximum of May 15 and exceeding the forecasts, while the services PMI dropped to 53.1 from 53.7 but remained above the market expectations. In general, mixed readings cooled the new buying interest in the US dollar, giving the aud/USD margin to recover.

Meanwhile, earlier in the day, the Global S&P figures showed that the private sector of Australia grew at its second fastest pace in ten months, with the service activity reaching a maximum of three months and the manufacturing manufacturer remaining stable. The PMI encouraging impression offered a relief for Aussie, providing some tranquility after recent launches Weak economic ones that had revived the conversation about possible rates cuts.

Technically, the strong recovery of the torque from the lower limit of its narrow range suggests that buyers are defending the key support about 0.6400, reinforced by the 100 -day mobile average around 0.6362. The RSI has turned up to the midline, and the MACD shows early stabilization signs. A daily closure above 0.6450 could open the door for a thrust to the area of ​​0.6500–0.6550, keeping alive the negotiation strategies in range. However, a ruling to stay above 0.6400 would expose the negative side towards 0.6300.