AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.34% against the USD to close at 1.0739, amid weak Australian retail sales data.
In Australia, the AiG performance of services index declined to 48.5 in June from 49.9 in the previous month.
In the morning economic news, the trade surplus in Australia increased to $2.3 billion in May from a surplus of $1.617 billion in the previous month.
In the Asian session at 3:00GMT, the pair is trading at 1.0701, 0.35% lower from yesterday’s close at 23:00 GMT.
LME Copper prices rose 0.1% or $5.8/MT to $9,410.5/ MT. Aluminium prices declined 1.0% or $25.5/MT to $2,460.3/ MT.
The pair is expected to find first short term resistance at 1.0750, with the next resistance levels at 1.0799 and 1.0881, subsequently. The first support for the pair is seen at 1.0668, followed by next supports at 1.0635 and 1.0553 respectively.
The currency pair is trading just below its 20 Hr and its 50 Hr moving averages.
