AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.09% against the USD to close at 1.0584.
In the US economic news, the existing home sales, on a monthly basis, declined by 3.8% to an annual rate of 4.81 million in May, the lowest rate since November 2010, following a downwardly revised rate of 5.00 million recorded in April.
In Australia, the Westpac leading index, on monthly basis, declined to 0.2% in April from 0.5% in the previous month.
In the Asian session at 3:00GMT, the pair is trading at 1.0578, 0.06% lower from yesterday’s close at 23:00 GMT.
LME Copper prices rose 1.4% or $124.8/MT to $9,059.5/ MT. Aluminium prices rose 1.2% or $29.0/MT to $2,519.5/ MT.
The pair is expected to find first short term resistance at 1.0621, with the next resistance levels at 1.0665 and 1.0753, subsequently. The first support for the pair is seen at 1.0533, followed by next supports at 1.0489 and 1.0401 respectively.
Trading trends in the pair today are expected to be determined by release of leading index in Australia.
The currency pair is trading between its 20 Hr and its 50 Hr moving averages.
