AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.38% against the USD to close at 0.9155.
LME Copper prices declined 0.7% or $46.0/MT to $6719.0/MT. Aluminium prices rose 0.2% or $3.5/MT to $1740.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9165, with the AUD trading 0.11% higher from yesterday’s close. Data released in the morning session revealed that Australia’s Westpac consumer confidence index dropped 0.1% (MoM) to a reading of 102.1 in July, compared to a rise of 4.7% reported in the previous month.
Separately, China’s trade surplus widened to $27.1 billion in June from a revised surplus of $20.42 billion recorded in May. Meanwhile, exports fell 3.1% (YoY) in June and imports fell 0.7% (YoY) in June.
The pair is expected to find support at 0.9117, and a fall through could take it to the next support level of 0.9068. The pair is expected to find its first resistance at 0.9208, and a rise through could take it to the next resistance level of 0.9250.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
