AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.42% against the USD and closed at 0.6932.
LME Copper prices declined 1.3% or $76.5/MT to $5828.5/MT. Aluminium prices declined 0.1% or $1.0/MT to $1753.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.6911, with the AUD trading 0.30% lower against the USD from yesterday’s close.
Overnight data indicated that Australia’s consumer inflation expectations remained unchanged at 3.3% in June. Moreover, the nation’s seasonally adjusted unemployment rate remained steady at 5.2% in May, defying market expectations for a drop to 5.1%.
The pair is expected to find support at 0.6896, and a fall through could take it to the next support level of 0.6880. The pair is expected to find its first resistance at 0.6942, and a rise through could take it to the next resistance level of 0.6972.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
