AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD marginally weakened against the USD to close at 0.7451.
LME Copper prices rose 0.04% or $2.0/MT to $4587.0/MT. Aluminium prices rose 1.00% or $16.0/MT to $1623.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7458, with the AUD trading 0.09% higher against the USD from yesterday’s close.
Early this morning, data showed that Australia’s Westpac leading index rose 0.21% MoM in May, following a revised rise of 0.14% in the prior month.
The pair is expected to find support at 0.7427, and a fall through could take it to the next support level of 0.7395. The pair is expected to find its first resistance at 0.7501, and a rise through could take it to the next resistance level of 0.7543.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
