AUDUSD Movement
On Friday, the AUD weakened 0.15% against the USD to close at 0.9387.
LME Copper prices rose 0.7% or $47.0/MT to $6777.5/MT. Aluminium prices edged up 0.1% or $1.0/MT to $1845.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9437, with the AUD trading 0.53% higher from Friday’s close, after data from its largest trading partner, China, showed that the HSBC manufacturing PMI rose to a reading of 50.8 in June, entering the expansion territory for the first time in six months.
The pair is expected to find support at 0.9393, and a fall through could take it to the next support level of 0.9349. The pair is expected to find its first resistance at 0.9463, and a rise through could take it to the next resistance level of 0.9489.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
