AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.37% against the USD to close at 0.7458.
LME Copper prices rose 3.74% or $201.0/MT to $5576.0/MT. Aluminium prices rose 1.79% or $29.0/MT to $1649.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7489, with the AUD trading 0.43% higher from yesterday’s close.
Early morning data showed that home loan approvals in Australia fell 6.1% in May, exceeding market expectations of a 3.5% drop. It followed a revised rise of 0.7% in the previous month.
The pair is expected to find support at 0.7436, and a fall through could take it to the next support level of 0.7382. The pair is expected to find its first resistance at 0.7520, and a rise through could take it to the next resistance level of 0.7551.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
