AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.41% against the USD to close at 1.0510.
LME Copper prices rose 0.8% or $61.5/MT to $7571.3/MT. Aluminium prices rose 0.4% or $7.8/MT to $1828.5/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0512, with the AUD trading marginally higher from yesterday’s close.
This morning, in China, the HSBC Flash manufacturing purchasing managers index fell to 47.8 in August, its lowest level since November 2011, and from 49.3 in July. Additionally, the Conference Board leading economic index rose 0.7% in July to 236.4, compared to the reading of 234.8 in June.
The pair is expected to find support at 1.0435, and a fall through could take it to the next support level of 1.0358. The pair is expected to find its first resistance at 1.0567, and a rise through could take it to the next resistance level of 1.0622.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
