AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.08% against the USD to close at 0.9245.
LME Copper prices declined 1.2% or $81.5/MT to $6841.0/MT. Aluminium prices fell 0.4% or $7.5/MT to $1714.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9264, with the AUD trading 0.21% higher from yesterday’s close, benefited from a 5-month-high-jump in the HSBC PMI index of China, its largest trading partner in May and as Australia’s consumer inflation expectation rose modestly by 4.4% in April.
The pair is expected to find support at 0.9224, and a fall through could take it to the next support level of 0.9184. The pair is expected to find its first resistance at 0.9287, and a rise through could take it to the next resistance level of 0.9310.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
