AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.55% against the USD and closed at 0.7629.
On the data front, Australia’s CB leading indicator advanced by 0.1% in June, following a similar rise recorded in the previous month.
LME Copper prices declined 0.88% or $42.0/MT to $4732.0/MT. Aluminium prices declined 0.21% or $3.5/MT to $1652.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7632, with the AUD trading slightly higher against the USD from yesterday’s close.
Early this morning, China’s, Australia’s largest trading partner, MNI business sentiment indicator fell to a level of 54.3 in August, compared to a level of 55.5 in the prior month.
The pair is expected to find support at 0.7592, and a fall through could take it to the next support level of 0.7553. The pair is expected to find its first resistance at 0.7659, and a rise through could take it to the next resistance level of 0.7687.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
