AUD/USD: Australia’s private sector credit remained steady in April


AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD declined 3.98% against the USD and closed at 0.6629.

LME Copper prices declined 0.6% or $30.0/MT to $5,278.5/MT. Aluminium prices fell 0.2% or $3.5/MT to $1,500.5/MT.

In the Asian session, at GMT0300, the pair is trading at 0.6641, with the AUD trading 0.18% higher against the USD from yesterday’s close.

Overnight data showed that Australia’s private sector credit demand remained flat on a monthly basis in April, compared to a rise of 1.1% in the earlier month.

The pair is expected to find support at 0.6597, and a fall through could take it to the next support level of 0.6552. The pair is expected to find its first resistance at 0.6677, and a rise through could take it to the next resistance level of 0.6712.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

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