AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.45% against the USD and closed at 0.7240.
LME Copper prices declined 0.4% or $22.0/MT to $6059.0/MT. Aluminium prices declined 0.7% or $14.0/MT to $2038.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7209, with the AUD trading 0.43% lower against the USD from yesterday’s close.
Overnight data indicated that Australia’s Westpac consumer confidence index slid 2.3% to a level of 103.6 on a monthly basis in August, after recording a level of 106.1 in the previous month.
The pair is expected to find support at 0.7184, and a fall through could take it to the next support level of 0.7158. The pair is expected to find its first resistance at 0.7259, and a rise through could take it to the next resistance level of 0.7308.
Looking ahead, investors will keep an eye on Australia’s unemployment rate for July and consumer inflation expectations for August, both scheduled to release overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
