AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.17% against the USD and closed at 0.7574.
LME Copper prices rose 1.03% or $70.5/MT to $6931.5/MT. Aluminium prices declined 0.57% or $13.0/MT to $2265.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7538, with the AUD trading 0.48% lower against the USD from yesterday’s close.
Overnight data revealed that Australia’s Westpac leading index rebounded 0.19% on a monthly basis in April, compared to a revised fall of 0.13% in the prior month. Additionally, the nation’s seasonally adjusted construction work done advanced 0.2% on a quarterly basis in the first quarter of 2018, falling short of market expectations for a gain of 1.3% and compared to a revised fall of 18.3% in the prior quarter.
The pair is expected to find support at 0.7514, and a fall through could take it to the next support level of 0.7489. The pair is expected to find its first resistance at 0.7584, and a rise through could take it to the next resistance level of 0.7629.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
