AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 1.27% against the USD to close at 0.7678.
LME Copper prices declined 0.63% or $38.0/MT to $5954.0/MT. Aluminium prices declined 1.11% or $19.0/MT to $1697.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7697, with the AUD trading 0.24% higher from yesterday’s close.
Earlier today, data showed that Australia’s AiG performance of construction index rose to 47.8 in May, compared to a level of 47.0 in the preceding month.
The pair is expected to find support at 0.7652, and a fall through could take it to the next support level of 0.7607. The pair is expected to find its first resistance at 0.7753, and a rise through could take it to the next resistance level of 0.7810.
Going forward, investors would closely monitor the RBA Governor, Glenn Steven’s speech, scheduled next week for further cues.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
