AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.19% against the USD to close at 0.7737.
LME Copper prices declined 0.05% or $3.0/MT to $5749.0/MT. Aluminium prices rose 0.87% or $14.5/MT to $1675.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7733, with the AUD trading 0.06% lower from yesterday’s close.
The actual FDI in China, Australia’s largest trading partner, rose 7.80% YoY in May, compared to previous month’s rise of 10.50% and against expectations of a 8.00% rise. In addition, China’s house price index slipped 5.70% YoY in May, after registering a slide of 6.10% in the prior month.
The pair is expected to find support at 0.7662, and a fall through could take it to the next support level of 0.7591. The pair is expected to find its first resistance at 0.7788, and a rise through could take it to the next resistance level of 0.7843.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
