AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.60% against the USD and closed at 0.6909 on Friday.
LME Copper prices declined 1.1% or $65.0/MT to $5945.0/MT. Aluminium prices rose 1.0% or $17.5/MT to $1778.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.6909, with the AUD trading flat against the USD from Friday’s close.
The pair is expected to find support at 0.6892, and a fall through could take it to the next support level of 0.6874. The pair is expected to find its first resistance at 0.6938, and a rise through could take it to the next resistance level of 0.6966.
Going forward, investors would closely monitor Australia’s building approvals for June, set to release overnight.
The currency pair is showing convergence with its 20 Hr moving average and trading 50 Hr moving average.
