Services PMI

AUD/USD is under pressure after slipping from this month’s high of 0.7238 to around 0.7117, with traders focused on Australia’s jobs data and the Reserve Bank of Australia’s upcoming rate decision. Technical traders are watching a break below 0.7100 as a potential confirmation signal for a deeper move toward 0.7000.

The U.S. Dollar Index moved away from session lows after stronger services PMI data helped offset a softer manufacturing reading. Major currency pairs remained driven by PMI surprises, commodity strength, Japanese inflation data and key technical levels.

EUR/USD extended its recovery to its strongest level since June 17 as Eurozone PMI data improved and crude oil stayed under pressure. Technical traders remain focused on support near 1.1487 and a potential move toward 1.1620 if momentum holds.