AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD marginally weakened against the USD to close at 0.7367.
LME Copper prices rose 0.81% or $38.0/MT to $4748.0/MT. Aluminium prices rose 1.13% or $17.5/MT to $1560.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7337, with the AUD trading 0.41% lower from yesterday’s close.
Early this morning, data showed that Australia’s consumer inflation expectations declined to 3.2% in May, following a reading of 3.6% in the previous month.
The pair is expected to find support at 0.7309, and a fall through could take it to the next support level of 0.7280. The pair is expected to find its first resistance at 0.7384, and a rise through could take it to the next resistance level of 0.743.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
