FxWirePro: AUD/USD eases amid stronger US dollar and soft PMI data

• AUD/USD slipped on Friday as Australian dollar weighed down by a stronger US dollar and weaker domestic PMI data.

• Greenback was buoyed by a run of better-than-expected economic data, a more hawkish Federal Reserve outlook and as tensions between the U.S. and Iran kept markets on edge...

• The S&P Global Flash Australia Composite PMI fell to 52.0 in February from 55.7 in January, signaling expansion for a seventeenth month but at a softer pace than the start of 2026.

• Looking ahead,  monthly consumer price index will be released on February 28, followed by the gross domestic product report on March 4, ahead of the Reserve Bank of Australia’s next meeting on March 17.

• Markets imply a 76% chance of the Reserve Bank of Australia hiking the 3.85% cash rate in May, and even March has nudged up to 28%.

• Immediate resistance is located at 0.7097 (19th Feb high), any close above will push the pair towards 0.71321 (23.6%fib).

• Support is seen at 0.7016(38.2%fib) and break below could take the pair towards 0.6925  (50%fib).

 Recommendation: Good to sell around 0.7020 with stop loss of 0.6900  and target price of 0.7080