AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.61% against the USD to close at 0.7322.
LME Copper prices declined 0.08% or $4.0/MT to $4744.0/MT. Aluminium prices declined 0.96% or $15.0/MT to $1545.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7292, with the AUD trading 0.41% lower from yesterday’s close.
The pair is expected to find support at 0.7261, and a fall through could take it to the next support level of 0.7230. The pair is expected to find its first resistance at 0.7345, and a rise through could take it to the next resistance level of 0.7398.
With no economic releases in Australia today, investors will look forward to the nation’s Westpac consumer confidence index and unemployment rate data, along with the RBA’s May meeting minutes, all scheduled to release next week.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
