AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.04% against the USD to close at 1.0209.
LME Copper prices declined 1.0% or $77.3/MT to $7520.3/ MT. Aluminium prices declined 0.6% or $11.3/MT to $1876.3/ MT.
In the Asian session, at GMT0300, the pair is trading at 1.0174, with the AUD trading 0.34% lower from yesterday’s close, after the NAB survey showed that the business confidence in Australia fell to -3.0 in June, while its business conditions improved to -1 in June from -4.
The Australian Dollar also fell after data released today morning indicated that imports in China, Australia’s biggest trading partner, rose less-than-forecasted.
The pair is expected to find support at 1.0148, and a fall through could take it to the next support level of 1.0122. The pair is expected to find its first resistance at 1.0207, and a rise through could take it to the next resistance level of 1.0240.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
