AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 1.95% against the USD to close at 0.9280.
LME Copper prices remained flat or $2.0/MT to $6972.5/MT. Aluminium prices declined 0.1% or $2.5/MT to $1792.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9249, with the AUD trading 0.33% lower from yesterday’s close, as Chinese PMI figure disappointed investors.
This morning, in China, the flash HSBC manufacturing purchasing managers’ index (PMI) fell to a reading of 48.30 in June, against the expected rise to 49.40 and compared to a reading of 49.20 in May. Meanwhile, the Reserve Bank of Australia reported that its foreign exchange transactions rose to A$490.00 million in May, from A$382.00 million recorded in the previous month.
The pair is expected to find support at 0.9140, and a fall through could take it to the next support level of 0.9032. The pair is expected to find its first resistance at 0.9458, and a rise through could take it to the next resistance level of 0.9668.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
