AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.33% against the USD and closed at 0.7126.
LME Copper prices rose 2.95% or $144.0/MT to $5032.0/MT. Aluminium prices rose 2.73% or
$40.5/MT to $1526.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7127, with the AUD trading marginally higher from yesterday’s close, after China, Australia’s biggest trading partner, cut its interest rate by 0.25% to 4.60% to boost the economic growth in the country.
Meanwhile, Australia’s seasonally adjusted construction work done unexpectedly climbed 1.60% QoQ in 2Q 2015, compared to a revised drop of 0.80% in the previous quarter.
The pair is expected to find support at 0.7065, and a fall through could take it to the next support level of 0.7003. The pair is expected to find its first resistance at 0.7221, and a rise through could take it to the next resistance level of 0.7314.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
