AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.65% against the USD to close at 0.7365.
LME Copper prices declined 2.32% or $107.5/MT to $4524.5/MT. Aluminium prices declined 1.30% or $21.0/MT to $1592.5MT.
In the Asian session, at GMT0300, the pair is trading at 0.7392, with the AUD trading 0.37% higher against the USD from yesterday’s close.
The pair is expected to find support at 0.7316, and a fall through could take it to the next support level of 0.7239. The pair is expected to find its first resistance at 0.7436, and a rise through could take it to the next resistance level of 0.7479.
With no economic releases in Australia today, investors will look forward to the nation’s house price index, the Westpac leading index, along with the Reserve Bank of Australia’s June meeting minutes, scheduled to release in the coming week.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
