AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 1.05% against the USD to close at 0.9963.
LME Copper prices declined 0.2% or $7383.8/MT to $7383.8/ MT. Aluminium prices declined 0.9% or $17.5/MT to $1925.8/ MT.
In the Asian session, at GMT0300, the pair is trading at 0.9948, with the AUD trading 0.15% lower from yesterday’s close.
This morning, in Australia, the Westpac/Melbourne Institute consumer sentiment index rose by 0.3% to a reading of 95.6 in June, compared to a 0.8% rise in May.
Meanwhile, Moody’s Investors Service stated that the outlook for Australia’s triple-A foreign-currency and local-currency ratings remains stable.
The pair is expected to find support at 0.9893, and a fall through could take it to the next support level of 0.9838. The pair is expected to find its first resistance at 0.9987, and a rise through could take it to the next resistance level of 1.0026.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
