AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.15% against the USD to close at 0.9360.
LME Copper prices declined 0.4% or $27.5/MT to $6949.0/MT. Aluminium prices fell 0.3% or $4.5/MT to $1753.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9364, with the AUD trading marginally higher from yesterday’s close.
Early morning, data from Australia’s largest trading partner, China, showed that foreign direct investment in the nation rose 3.4% (YoY) to $8.7 billion in April, less compared to $12.24 billion of investment in March.
The pair is expected to find support at 0.9328, and a fall through could take it to the next support level of 0.9291. The pair is expected to find its first resistance at 0.9398, and a rise through could take it to the next resistance level of 0.9431.
Trading trends in the pair today are expected to be determined by
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
