AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 1.19% against the USD to close at 0.7981.
LME Copper prices rose 1.34% or $85.0/MT to $6448.0/MT. Aluminium prices rose 0.16% or $3.0/MT to $1855.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7982, with the AUD trading a tad higher from yesterday’s close.
Earlier today, data showed that the wage cost index in Australia rose lower than expected 0.5% QoQ in the first quarter of 2015 following a similar increase registered in the previous quarter.
The pair is expected to find support at 0.792, and a fall through could take it to the next support level of 0.7859. The pair is expected to find its first resistance at 0.8028, and a rise through could take it to the next resistance level of 0.8074.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
