AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.88% against the USD to close at 0.7386.
LME Copper prices rose 1.72% or $94.5/MT to $5597.0/MT. Aluminium prices rose 1.30% or $21.5/MT to $1674.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7375, with the AUD trading 0.15% lower from yesterday’s close.
Early morning data showed that Australia’s consumer inflation expectation advanced 3.4% in July, following a rise of 3.0% in June.
The pair is expected to find support at 0.7322, and a fall through could take it to the next support level of 0.7269. The pair is expected to find its first resistance at 0.746, and a rise through could take it to the next resistance level of 0.7544.
Moving ahead, investors would concentrate on Australia CB leading index data, scheduled in the early hours tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
