AUDUSD Movement
For the 24 hours to 23:00 GMT on Friday, AUD strengthened 0.81% against the USD to close at 1.0481.
LME Copper prices rose 0.6% or $44.5/MT to $7554.8/ MT. Aluminium prices declined 0.3% or $5.5/MT to $1859.8/ MT.
In the Asian session, at GMT0300, the pair is trading at 1.0458, with the AUD trading 0.22% lower from Friday’s close.
This morning, the Housing Industry Association (HIA) reported that the new home sales in Australia rose 2.8% (MoM) in June, compared to a 0.7% rise in May.
The pair is expected to find support at 1.0409, and a fall through could take it to the next support level of 1.0360. The pair is expected to find its first resistance at 1.0497, and a rise through could take it to the next resistance level of 1.0536.
The currency pair is trading just above its 20 Hr moving average and well above its 50 Hr moving average.
