AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.21% against the USD to close at 1.0726.
In Australia, the Australian industry group and housing industry association have reported that the construction index rose to 39.6 in May, from 37.9 in April.
In the Asian session at 3:00GMT, the pair is trading at 1.0727, flat from yesterday’s close at 23:00 GMT.
LME Copper prices rose 0.9% or $81.8/MT to $9,097.5/ MT. Aluminium prices rose 0.7% or $17.5/MT to $2,626.8/ MT.
The pair is expected to find first short term resistance at 1.0767, with the next resistance levels at 1.0808 and 1.0888, subsequently. The first support for the pair is seen at 1.0687, followed by next supports at 1.0648 and 1.0568 respectively.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
