AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.72% against the USD to close at 1.0537.
In the US, the Richmond Federal Reserve Bank reported that its seasonally adjusted composite index of manufacturing activity rose to a reading of 3.0 in June, following a score of -6.0 recorded in May.
In the Asian session at 3:00GMT, the pair is trading at 1.0529, 0.08% lower from yesterday’s close at 23:00 GMT.
LME Copper prices declined 0.1% or $5.0/MT to $8,995.3/ MT. Aluminium prices rose 0.5% or $13.5/MT to $2,479.8/ MT.
The pair is expected to find first short term resistance at 1.0573, with the next resistance levels at 1.0618 and 1.0731, subsequently. The first support for the pair is seen at 1.0460, followed by next supports at 1.0392 and 1.0279 respectively.
The currency pair is trading just above its 20 Hr and its 50 Hr moving averages.
