AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened marginally against the USD to close at 0.9765.
LME Copper prices rose 0.4% or $29.8/MT to $ 7660.0/ MT. Aluminium prices declined 0.4% or $7.3/MT to $ 1968.5/ MT.
In the Asian session, at GMT0300, the pair is trading at 0.9733, with the AUD trading 0.33% lower from yesterday’s close.
This morning, in China, MNI in its monthly survey report stated that business condition in the nation stood at 54.40 in May, compared to the market expectation of 52.99 and against the reading of 56.04 in April.
The pair is expected to find support at 0.9692, and a fall through could take it to the next support level of 0.9652. The pair is expected to find its first resistance at 0.9793, and a rise through could take it to the next resistance level of 0.9854.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
