AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.13% against the USD to close at 1.0271.
LME Copper prices declined 1.1% or $82.3/MT to $7695.3/ MT. Aluminium prices rose 1.0% or $19.3/MT to $1.0%/ MT.
In the Asian session, at GMT0300, the pair is trading at 1.0247, with the AUD trading 0.23% lower from yesterday’s close, after Australia reported fifth straight month trade deficit in May.
This morning, in Australia, trade deficit widened to A$285 million in May, against the deficit of A$26 million recorded in April.
The pair is expected to find support at 1.0226, and a fall through could take it to the next support level of 1.0204. The pair is expected to find its first resistance at 1.0286, and a rise through could take it to the next resistance level of 1.0324.
Trading trends in the pair today are expected to be determined by the release of AiG performance of construction index in Australia.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
