AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.46% against the USD to close at 1.0631.
In Australia, the trade balance stood at A$1.59 billion in April following a surplus of A$1.74 billion in March.
In the Asian session at 3:00GMT, the pair is trading at 1.0617, 0.13% lower from yesterday’s close at 23:00 GMT.
LME Copper prices declined 0.6% or $53.8/MT to $9,170.5/ MT. Aluminium prices rose 0.2% or $4.3/MT to $2,652.8/ MT.
The pair is expected to find first short term resistance at 1.0720, with the next resistance levels at 1.0822 and 1.0993, subsequently. The first support for the pair is seen at 1.0549, followed by next supports at 1.0480 and 1.0309 respectively.
Trading trends in the currency pair are expected to be determined by data release on performance of services index in Australia.
The currency pair is trading just below its 20 Hr and its 50 Hr moving averages.
