AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.21% against the USD to close at 0.9226.
LME Copper prices rose 1.5% or $104.5/MT to $6945.5/MT. Aluminium prices advanced 1.8% or $31.0/MT to $1745.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9247, with the AUD trading 0.23% higher from yesterday’s close. Earlier today, a report from China, Australia’s largest trading partner, showed that the CB leading index in the nation rose 0.9% to a reading of 288.1 in April, from previous month’s level of 285.5.
The pair is expected to find support at 0.9214, and a fall through could take it to the next support level of 0.9181. The pair is expected to find its first resistance at 0.9278, and a rise through could take it to the next resistance level of 0.9309.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
