AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.82% against the USD to close at 1.0489.
The Reserve Bank of Australia’s Deputy Governor, Ric Battellino, stated that inflation remains a big concern for policy makers.
Additionally, this morning, the conference board leading index declined 0.8% (M-o-M) in June, following a 0.1% decline in the previous month.
In the Asian session at 3:00GMT, the pair is trading at 1.0475, 0.13% lower from yesterday’s close at 23:00 GMT.
LME Copper prices rose 0.5% or $47.0/MT to $8,858.3/ MT. Aluminium prices declined 0.1% or $3.0/MT to $2,321.8/ MT.
The pair is expected to find first short term resistance at 1.0535, with the next resistance levels at 1.0595 and 1.0727, subsequently. The first support for the pair is seen at 1.0403, followed by next supports at 1.0331 and 1.0199 respectively.
The currency pair is trading between its 20 Hr and its 50 Hr moving averages.
