• AUD/USD steadied around 0.6490 on Thursday as Australian dollar was supported by a weaker US dollar and an improvement in China’s services PMI data.
• China’s services activity grew slightly faster in May as domestic orders rose, though export orders fell amid U.S. tariff uncertainty, a private survey showed.
• The Caixin/S&P Global services PMI rose to 51.1 in May from 50.7, signaling continued expansion.
• Separate data showed, Australia's trade surplus narrowed to A$5.4B in April from A$6.9B, slightly below forecasts, as exports of gold pulled back from record highs.
• At GMT 05:11, The Australian dollar was last trading up 0.02% to $0.6490.
• Immediate resistance is located at 0.6502(23.6%fib), any close above will push the pair towards 0.6513(Higher BB).
• Support is seen at 0.6439 (200SMA) and break below could take the pair towards 0.6433(38.2%fib).
Recommendation: Good to buy around 0.6480 with stop loss of 0.6360 and target price of 0.6560
