AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.26% against the USD to close at 0.9116.
LME Copper prices declined 0.8% or $58.0/MT to $6922.0/MT. Aluminium prices declined 1.0% or $18.0/MT to $1774.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9113, with the AUD trading marginally lower from yesterday’s close.
Data released this morning indicated that on a seasonally adjusted annual basis, building approvals in Australia fell 3.2% in May, compared to a revised 28.8% rise recorded in the previous month.
The pair is expected to find support at 0.9055, and a fall through could take it to the next support level of 0.8996. The pair is expected to find its first resistance at 0.9153, and a rise through could take it to the next resistance level of 0.9192.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
