AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.50% against the USD to close at 0.9557.
LME Copper prices declined 1.5% or $110.5/MT to $7311.0/MT. Aluminium prices declined 0.6% or $11.5/MT to $1927.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9487, with the AUD trading 0.73% lower from yesterday’s close.
Data released this morning indicated that Australia’s performance of construction index slightly rose to a reading of 35.3 in May, from a reading of 35.2 recorded in April.
The pair is expected to find support at 0.9389, and a fall through could take it to the next support level of 0.9290. The pair is expected to find its first resistance at 0.9631, and a rise through could take it to the next resistance level of 0.9774.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
