AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 2.58% against the USD to close at 1.0004.
In the Asian session at 3:00GMT, the Australian Dollar is trading at 0.9808, 1.96% lower from yesterday’s close at 23:00 GMT, after the Leading Index in Australia declined 0.1% (M-o-M) in July, following a 0.8% drop in the previous month.
LME Copper prices declined 5.2% or $430.3/MT to $7,790.3/ MT. Aluminium prices declined 1.8% or $41.5/MT to $2,224.8/ MT.
The pair is expected to find first short term resistance at 0.9999, with the next resistance levels at 1.0191 and 1.0509, subsequently. The first support for the pair is seen at 0.9681, followed by next supports at 0.9555 and 0.9237 respectively.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
