AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.71% against the USD and closed at 0.7996.
LME Copper prices climbed 1.4% or $88.0/MT to $6238.0/MT. Aluminium prices rose 0.8% or $15.5/MT to $1912.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.8048, with the AUD trading 0.65% higher against the USD from yesterday’s close.
Earlier today, data showed Australia’s import price index unexpectedly eased 0.1% QoQ in 2Q 2017, compared to an advance of 1.2% in the previous quarter and defying market consensus for a gain of 0.7%. Moreover, the nation’s export price index fell more-than-expected by 5.7% on a quarterly basis in 2Q 2017, compared to a revised rise of 8.8% in the previous quarter.
Elsewhere, in China, Australia’s largest trading partner, industrial profits rose 19.1% an annual basis in June, after recording a rise of 16.7% in the prior month.
The pair is expected to find support at 0.7934, and a fall through could take it to the next support level of 0.7819. The pair is expected to find its first resistance at 0.8107, and a rise through could take it to the next resistance level of 0.8165.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
