AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.57% against the USD to close at 0.9200.
LME Copper prices declined 0.7% or $45.0/MT to $6860.5/MT. Aluminium prices declined 0.1% or $1.5/MT to $1760.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9084, with the AUD trading 1.26% lower from yesterday’s close, after Australian building approvals fell unexpectedly in June.
Also, the Reserve Bank of Australia Governor, Glenn Stevens, hinted that there is room to cut the official interest rate below its current level.
The pair is expected to find support at 0.9003, and a fall through could take it to the next support level of 0.8922. The pair is expected to find its first resistance at 0.9227, and a rise through could take it to the next resistance level of 0.9370.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
