AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.37% against the USD to close at 1.0008.
LME Copper prices rose 0.3% or $22.8/MT to $7342.3/ MT. Aluminium prices declined 0.4% or $6.5/MT to $1816.8/ MT.
In the Asian session, at GMT0300, the pair is trading at 1.0027, with the AUD trading 0.19% higher from yesterday’s close.
In China, Conference Board leading economic index rose 1.1% to 235.1in May, following 0.9% rise in April.
The pair is expected to find support at 0.9984, and a fall through could take it to the next support level of 0.9941. The pair is expected to find its first resistance at 1.0055, and a rise through could take it to the next resistance level of 1.0083.
With no major release from Australia, the pair is expected to trade on trends in the greenback.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
