AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.83% against the USD to close at 1.0278.
LME Copper prices rose 0.8% or $64.0/MT to $7670.3/MT. Aluminium prices rose 1.8% or $34.8/MT to $1962.5/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0290, with the AUD trading 0.12% higher from yesterday’s close.
This morning, Australia reported a seasonally adjusted trade deficit of A$556 million in July, compared with A$227 million deficit in June. Also, the AiG performance of construction index in Australia fell to a reading of 32.2 in August, compared to a reading of 32.6 in July.
The pair is expected to find support at 1.0233, and a fall through could take it to the next support level of 1.0176. The pair is expected to find its first resistance at 1.0327, and a rise through could take it to the next resistance level of 1.0364.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
