AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.21% against the USD to close at 0.9942.
LME Copper prices rose 0.2% or $13.5/MT to $7397.3/ MT. Aluminium prices declined 0.1% or $2.0/MT to $1923.8/ MT.In the Asian session, at GMT0300, the pair is trading at 0.9955, with the AUD trading 0.13% higher from yesterday’s close.
This morning, survey report from the Melbourne Institute showed that the consumer inflation expectation in Australia fell to 2.3% in June, below the mid-point of the Reserve Bank of Australia’s (RBA) 2% to 3% target range.
The pair is expected to find support at 0.9922, and a fall through could take it to the next support level of 0.9888. The pair is expected to find its first resistance at 0.9996, and a rise through could take it to the next resistance level of 1.0037.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
