AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.17% against the USD to close at 1.0316.
In the Asian session, at GMT0300, the pair is trading at 1.0295, with the AUD trading 0.21% lower from yesterday’s close, after reports showed that AiG performance of services index in Australia fell to 39.6 in April, compared to 47.0 in previous month.
Additionally, China’s non-manufacturing purchasing managers’ index fell to a reading of 56.1 in April compared to a reading of 58.0 recorded in March.
LME Copper prices declined 1.5% or $127.0 /MT to $8,400.5 / MT. Aluminium prices declined 0.1% or $2.3 /MT to $2,064.3 / MT.
The pair is expected to find support at 1.0268, and a fall through could take it to the next support level of 1.0241. The pair is expected to find its first resistance at 1.0338, and a rise through could take it to the next resistance level of 1.0382.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
