AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.20% against the USD to close at 0.9683.
LME Copper prices declined 2.6% or $194.5/MT to $7285.5/MT. Aluminium prices declined 0.6% or $11.5/MT to $1826.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9665, with the AUD trading 0.19% lower from yesterday’s close.
Data released this morning indicated that Chinese MNI flash business sentiment indicator dropped to a reading of 57.1 in May, from a reading of 58.5 in April.
The pair is expected to find support at 0.9578, and a fall through could take it to the next support level of 0.9490. The pair is expected to find its first resistance at 0.9767, and a rise through could take it to the next resistance level of 0.9868.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
