AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.28% against the USD and closed at 0.7506.
LME Copper prices declined 0.15% or $7.5/MT to $4862.0/MT. Aluminium prices rose 0.88% or $14.0/MT to $1598.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7533, with the AUD trading 0.36% higher against the USD from yesterday’s close.
Early morning data indicated that, Australia’s private sector credit rose less-than-expected by 0.2% MoM in June, whereas markets expected for an advance of 0.5% and following a gain of 0.4% in the previous month.
The pair is expected to find support at 0.7498, and a fall through could take it to the next support level of 0.7463. The pair is expected to find its first resistance at 0.7559, and a rise through could take it to the next resistance level of 0.7585.
Moving ahead, investors would shift their focus on Australia’s AiG performance of manufacturing index data for July, slated to release on Monday.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
