AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.9834% against the USD to close at 0.9834.
LME Copper prices declined 0.7% or $53.8/MT to $7685.3/ MT. Aluminium prices declined 0.1% or $1.0/MT to $1979.3/ MT.
In the Asian session, at GMT0300, the pair is trading at 0.9791, with the AUD trading 0.43% lower from yesterday’s close, amid release of weak retail sales data in Australia.
Data released this morning in Australia showed that retail sales, on a seasonally adjusted basis, fell 0.2% (MoM) in April, against the market expectation of 0.2% rise, and compared to a 1.1% rise in March.
The pair is expected to find support at 0.9746, and a fall through could take it to the next support level of 0.9700. The pair is expected to find its first resistance at 0.9867, and a rise through could take it to the next resistance level of 0.9943.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
