AUD/USD: The Australian dollar plunged to a 1-week low after domestic data showed business conditions slipped in May as sales and profits struggled. The National Australia Bank’s index of business conditions eased 2 points to +1 in May, leaving it well below the long-run average. The Aussie trades 0.1 percent down at 0.6952, having hit a high of 0.7022 on Friday, it’s highest since May 8.
Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6914 (May 15 Low), a break below targets 0.6881 (May 24 Low). On the upside, resistance is located at 0.7029 (May 2 High), a break above could take it near 0.7061 (May 1 High).
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