AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD dropped 1.65% against the USD to close at 0.9133, following the release of soft second-quarter inflation data from Australian and dismal manufacturing PMI data in China, Australia’s largest trading partner.
LME Copper prices rose 1.7% or $115.5/MT to $7076.5/MT. Aluminium prices rose 0.3% or $5.5/MT to $1807.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9153, with the AUD trading 0.22% higher from yesterday’s close.
The pair is expected to find support at 0.9098, and a fall through could take it to the next support level of 0.9042. The pair is expected to find its first resistance at 0.9239, and a rise through could take it to the next resistance level of 0.9324.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
