AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.47% against the USD and closed at 0.7234.
LME Copper prices declined 1.1% or $72.0/MT to $6,453.5/MT. Aluminium prices fell 1.0% or $17.0/MT to $1,722.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7217, with the AUD trading 0.24% lower against the USD from yesterday’s close.
Overnight data showed that Australia’s AiG performance of services index climbed to 44.0 in July, compared to a reading of 31.5 in the prior month.
The pair is expected to find support at 0.7180, and a fall through could take it to the next support level of 0.7142. The pair is expected to find its first resistance at 0.7249, and a rise through could take it to the next resistance level of 0.7280.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
