AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.09% against the USD, on Friday, to close at 1.0760, as risk aversion grew among investors, following a weak US jobs data and a rise in China’s consumer price inflation.
In Australia, this morning, the total home loans rose by 4.4% (M-o-M) in May following a 4.6% rise in April.
In the Asian session at 3:00GMT, the pair is trading at 1.0712, 0.45% lower from Friday’s close at 23:00 GMT.
LME Copper prices rose 1.8% or $175.8/MT to $9,712.5/ MT. Aluminium prices rose 0.7% or $16.5/MT to $2,545.3/ MT.
The pair is expected to find first short term resistance at 1.0773, with the next resistance levels at 1.0835 and 1.0943, subsequently. The first support for the pair is seen at 1.0665, followed by next supports at 1.0619 and 1.0511 respectively.
The currency pair is trading just below its 20 Hr and its 50 Hr moving averages.
