AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.17% against the USD to close at 0.7188.
LME Copper prices declined 0.02% or $1.0 /MT to $4636.0 /MT. Aluminium prices declined 0.90% or $14.0 /MT to $1539.0 /MT.
In the Asian session, at GMT0300, the pair is trading at 0.72, with the AUD trading 0.17% higher from yesterday’s close.
Early this morning, data showed that, Australia’s private capital expenditure declined 5.2% in 1Q 2016, compared to a revised rise of 1.8% in the previous quarter. Markets were expecting private capital expenditure to fall 3.5%.
The pair is expected to find support at 0.7169, and a fall through could take it to the next support level of 0.7137. The pair is expected to find its first resistance at 0.7225, and a rise through could take it to the next resistance level of 0.7249.
Going ahead, investors will look forward to a speech by the Reserve Bank of Australia’s (RBA) Assistant Governor, Guy Debelle, due later today.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
