AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 1.58% against the USD to close at 1.0768, on the back of robust Chinese data, fueling appetite for higher-yielding assets.
In Australia, this morning, the consumer inflation expectations rose to 3.4% in July, from 3.3% in June.
In the Asian session at 3:00GMT, the pair is trading at 1.0753, 0.14% lower from yesterday’s close at 23:00 GMT.
LME Copper prices rose 1.7% or $158.0/MT to $9,658.3/ MT. Aluminium prices rose 0.3% or $6.8/MT to $2,450.3/ MT.
The pair is expected to find first short term resistance at 1.0833, with the next resistance levels at 1.0912 and 1.1102, subsequently. The first support for the pair is seen at 1.0643, followed by next supports at 1.0532 and 1.0342 respectively.
The currency pair is trading just above its 20 Hr and its 50 Hr moving averages.
