AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.32% against the USD to close at 0.7410.
LME Copper prices declined 1.20% or $67.0/MT to $5530.0/MT. Aluminium prices declined 0.63% or $10.5/MT to $1664.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7415, with the AUD trading 0.07% higher from yesterday’s close.
Earlier today, data showed that Australia’s CB leading index rebounded 0.2% in May, following a 0.3% fall recorded in the preceding month.
The pair is expected to find support at 0.7364, and a fall through could take it to the next support level of 0.7312. The pair is expected to find its first resistance at 0.7453, and a rise through could take it to the next resistance level of 0.7490.
Meanwhile, market participants would keep a close eye on the RBA minutes from its latest monetary policy meeting, scheduled next week.
The currency pair is trading above 20 Hr and 50 Hr moving averages.
