AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.13% against the USD to close at 0.7289,
LME Copper prices declined 1.15% or $61.0/MT to $5241.0/MT. Aluminium prices declined 0.65% or $10.5/MT to $1608.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7298, with the AUD trading 0.12% higher from yesterday’s close.
Early morning data showed that private sector credit growth in Australia advanced 0.40% MoM in June, compared to an advance of 0.50% in the prior month.
The pair is expected to find support at 0.7261, and a fall through could take it to the next support level of 0.7223. The pair is expected to find its first resistance at 0.733, and a rise through could take it to the next resistance level of 0.7363.
The RBA’s interest rate decision scheduled next week, would grab lot of market attention.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
