AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.52% against the USD to close at 0.7727.
LME Copper prices declined 0.30% or $17.0/MT to $5646.0/MT. Aluminium prices remained unchanged at its previous day’s closing price of $1650.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7705, with the AUD trading 0.28% lower from yesterday’s close.
Early this morning, data showed that Australia’s house price index rose less than expected by 1.6% QoQ in the Q1 2015, compared to revised increase of 2.0% in the preceding quarter.
Elsewhere, in China, Australia’s biggest trading partner, the flash HSBC/Markit manufacturing PMI index advanced to a level of 49.60, compared to a level of 49.20 in the prior month, while markets were anticipating it to climb to 49.50.
The pair is expected to find support at 0.7667, and a fall through could take it to the next support level of 0.7629. The pair is expected to find its first resistance at 0.7771, and a rise through could take it to the next resistance level of 0.7837.
The currency pair is trading below with its 20 Hr and 50 Hr moving averages.
