AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.63% against the USD to close at 1.0307.
LME Copper prices rose 0.5% or $35.0/MT to $ 7670.5/ MT. Aluminium prices rose 1.4% or $26.8/MT to $ 1888.3/ MT.
In the Asian session, at GMT0300, the pair is trading at 1.0302, with the AUD trading 0.05% lower from yesterday’s close.
This morning, the annualized growth rate of the Westpac-Melbourne Institute leading index in Australia was 1.6% in May.
The pair is expected to find support at 1.0249, and a fall through could take it to the next support level of 1.0197. The pair is expected to find its first resistance at 1.0340, and a rise through could take it to the next resistance level of 1.0379.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
