AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.43% against the USD and closed at 0.7552.
LME Copper prices rose 0.38% or $17.5/MT to $4620.0/MT. Aluminium prices declined 0.87% or $14.0/MT to $1587.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7553, with the AUD trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 0.7517, and a fall through could take it to the next support level of 0.7482. The pair is expected to find its first resistance at 0.7573, and a rise through could take it to the next resistance level of 0.7594.
Amid no economic releases in Australia today, investors would keep a close watch on the RBA’s interest rate decision along with the nation’s second quarter GDP data, due next week for further direction.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
