For the 24 hours to 23:00 GMT, AUD strengthened 0.22% against the USD to close at 1.0673, amid positive Australian retail sales data.
In economic news, the Australian Industry Group (AIG) reported that its performance of manufacturing index declined by 0.1 point to 43.3 in August, from 43.4 in July.
This morning, the Australian Bureau of Statistics reported that, on a seasonally adjusted basis, retail sales advanced by 0.5% (MoM) to A$20.65 billion in July compared to a decline of 0.1% (MoM) to A$20.54 billion in June.
In the Asian session at 3:00GMT, the Australian Dollar is trading at 1.0707, 0.32% higher from yesterday’s close at 23:00 GMT.
LME Copper prices rose 0.8% or $69.5/MT to $9196.5/ MT. Aluminium prices rose 1.8% or $41.8/MT to $2402.3/ MT.
The pair is expected to find first short term resistance at 1.0735, with the next resistance levels at 1.0762 and 1.0829, subsequently. The first support for the pair is seen at 1.0668, followed by next supports at 1.0628 and 1.0561 respectively.
The currency pair is showing convergence with its 20 Hr moving average and trading just above its 50 Hr moving average.
