AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.13% against the USD to close at 0.9286.
LME Copper prices rose 1.2% or $ 85.0/MT to $ 7088.0/MT. Aluminium prices declined 0.1% or $ 3.0/MT to $ 2055.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9297, with the AUD trading 0.12% higher from yesterday’s close.
Earlier this morning, data from China, Australia’s biggest trading partner, indicated that the leading economic index in China climbed 1.3% in July, following a similar increase recorded in the preceding month.
The pair is expected to find support at 0.927, and a fall through could take it to the next support level of 0.9244. The pair is expected to find its first resistance at 0.9324, and a rise through could take it to the next resistance level of 0.9352.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
