AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.78% against the USD to close at 1.0428.
LME Copper prices rose 1.3% or $96.0/MT to $7667.3/MT. Aluminium prices rose 1.8% or $32.8/MT to $1861.3/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0436, with the AUD trading 0.08% higher from yesterday’s close.
This morning, in Australia, the Conference Board leading economic index increased 0.2% in June to 123.7, following a 0.3% increase in May.
Meanwhile in China, the MNI flash business sentiment indicator remained in the contraction territory and fell to a reading of 46.76 in August.
The pair is expected to find support at 1.0392, and a fall through could take it to the next support level of 1.0348. The pair is expected to find its first resistance at 1.0510, and a rise through could take it to the next resistance level of 1.0584.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
