AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.57% against the USD to close at 0.7872.
LME Copper prices declined 0.99% or $62.0/MT to $6208.0/MT. Aluminium prices declined 0.06% or $1.0/MT to $1749.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7896, with the AUD trading 0.3% higher from yesterday’s close.
Earlier today, data revealed that Australia’s consumer inflation expectation advanced 3.6% in May, following a rise of 3.4% recorded in the preceding month.
Elsewhere, in China, the HSBC PMI for manufacturing rose less than expected to 49.1 and contracted for the third consecutive month in May. In the previous month, the index had recorded a level of 48.9.
The pair is expected to find support at 0.7859, and a fall through could take it to the next support level of 0.7822. The pair is expected to find its first resistance at 0.7935, and a rise through could take it to the next resistance level of 0.7974.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
