The Australian service sector expanded strongly according to the Australian AiG Performance of Services Index, but this was conflicted by the final reading of the Australian CBA Services PMI which was revised down to 50.0 and just barely avoided contraction. The final CBA Composite PMI was also revised down to 50.0 and the Chinese services sector eased slightly as measured by the Caixin Services PMI while the Caixin Composite PMI inched up. The AUDUSD remained stable at resistance, what’s next for price action? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

Forex traders will focus on today’s ISM Non-Manufacturing Index out of the US which is expected to move the US Dollar. Economic data out of the US has confirmed a slowing economy with manufacturing in a recession. The US Dollar has weakened after three consecutive interest rate cuts by the US Fed, but they will take time to filter through the economy. How will today’s data impact the AUDUSD? Today’s fundamental analysis will take a look at the upside potential as well as downside risk in this currency pair.