AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.49% against the USD to close at 1.0057, amid hopes that Reserve Bank of Australia (RBA) policy makers would keep the key rate unchanged in the next meeting.
Meanwhile, in the US, consumer confidence index fell to a reading of 62.0 in June, marking the fourth consecutive monthly decline.
LME Copper prices rose 0.1% or $4.3/MT to $7346.5/ MT. Aluminium prices declined 0.4% or $6.5/MT to $1810.3/ MT.
In the Asian session, at GMT0300, the pair is trading at 1.0068, with the AUD trading 0.11% higher from yesterday’s close.
The pair is expected to find support at 1.0025, and a fall through could take it to the next support level of 0.9982. The pair is expected to find its first resistance at 1.0098, and a rise through could take it to the next resistance level of 1.0128.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
