AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.28% against the USD to close at 1.0489.
LME Copper prices declined 0.3% or $19.8/MT to $7406.5/ MT. Aluminium prices declined 0.6% or $11.0/MT to $1812.8/ MT.
In the Asian session, at GMT0300, the pair is trading at 1.0474, with the AUD trading 0.14% lower from yesterday’s close, after the Westpac/Melbourne Institute Index of consumer sentiment fell to 96.6 in August, from 99.1 in July.
Meanwhile, the Australian wage price index rose to a seasonally adjusted 1.0% (QoQ) in the June quarter, from 0.9% in the preceding quarter.
The pair is expected to find support at 1.0446, and a fall through could take it to the next support level of 1.0417. The pair is expected to find its first resistance at 1.0522, and a rise through could take it to the next resistance level of 1.0569.
With no key economic releases in the day ahead, the AUD is expected to ride on general market cues against the greenback.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
