AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.31% against the USD and closed at 0.7912.
LME Copper prices rose 1.1% or $69.5/MT to $6584.0/MT. Aluminium prices rose 1.0% or $20.0/MT to $2104.5/MT.
Yesterday, in China, Australia’s largest trading partner, the leading economic index climbed 0.9% on a monthly basis in July. In the previous month, the index had advanced by a revised 1.7%.
In the Asian session, at GMT0300, the pair is trading at 0.7897, with the AUD trading 0.19% lower against the USD from yesterday’s close.
The pair is expected to find support at 0.7871, and a fall through could take it to the next support level of 0.7845. The pair is expected to find its first resistance at 0.7935, and a rise through could take it to the next resistance level of 0.7973.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
