AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.43% against the USD and closed at 0.7485.
LME Copper prices rose 0.15% or $7.5/MT to $4869.5/MT. Aluminium prices declined 0.41% or $6.5/MT to $1584.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.751, with the AUD trading 0.33% higher against the USD from yesterday’s close.
Early morning data indicated that, Australia’s import price index unexpectedly eased 1.0% on a quarterly basis in 2Q 2016, defying market expectations for a rise of 1.5% and following a drop of 3.0% in the previous quarter. Also, the export price index climbed less-than-forecasted by 1.4% on a quarterly basis in 2Q 2016, compared to a fall of 4.7% in the previous quarter and defying investor consensus for it to rise by 3.0%.
The pair is expected to find support at 0.7442, and a fall through could take it to the next support level of 0.7374. The pair is expected to find its first resistance at 0.7553, and a rise through could take it to the next resistance level of 0.7596.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
