AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.53% against the USD and closed at 0.7383.
LME Copper prices declined 10.12% or $707.0/MT to $6280.0/MT. Aluminium prices declined 1.87% or $41.5/MT to $2179.0 /MT.
In the Asian session, at GMT0300, the pair is trading at 0.7393, with the AUD trading 0.14% higher against the USD from yesterday’s close.
Overnight data indicated that Australia’s Westpac leading index retreated by 0.22% on a monthly basis in May. The index had climbed by a revised 0.23% in the prior month.
The pair is expected to find support at 0.7355, and a fall through could take it to the next support level of 0.7317. The pair is expected to find its first resistance at 0.7423, and a rise through could take it to the next resistance level of 0.7453.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
