AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.21% against the USD to close at 0.7368.
LME Copper prices rose 0.88% or $45.0/MT to $5148.0/MT. Aluminium prices declined 0.52% or $8.0/MT to $1539.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7356, with the AUD trading 0.16% lower from yesterday’s close. In economic news, actual FDI in China, Australia largest trading partner, advanced 5.20% YoY in July, higher than market expectations for a rise of 5.00%. The actual FDI had climbed 0.70% in the prior month.
The pair is expected to find support at 0.7318, and a fall through could take it to the next support level of 0.728. The pair is expected to find its first resistance at 0.7399, and a rise through could take it to the next resistance level of 0.7441.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
