AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.80% against the USD to close at 0.9307, as an optimistic report on Australia’s capital spending lifted the Aussie while a lacklustre US GDP data weighed on the greenback.
LME Copper prices declined 0.9% or $65.0/MT to $6970.0/MT. Aluminium prices fell 0.9% or $17.0/MT to $1784.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9316, with the AUD trading 0.10% higher from yesterday’s close.
On the economic front, the RBA reported that the value of loans outstanding to the Australia’s private sector increased by 0.5% (MoM) in April, following a rise of 0.4% in March.
The pair is expected to find support at 0.9270, and a fall through could take it to the next support level of 0.9223. The pair is expected to find its first resistance at 0.9345, and a rise through could take it to the next resistance level of 0.9373.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
