AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.10% against the USD and closed at 0.6760.
LME Copper prices rose 0.4% or $20.0/MT to $5667.0/MT. Aluminium prices rose 0.6% or $10.0/MT to $1740.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.6723, with the AUD trading 0.55% lower against the USD from yesterday’s close.
Overnight data showed that Australia’s AIG performance of construction index fell to a level of 39.1 in July, compared to a reading of 43.0 in the prior month. Meanwhile, the nation’s seasonally adjusted home loan approvals climbed 0.4% on a monthly basis in June, less than market expectations for a rise of 0.5%. In the prior month, home loan approvals had registered a revised drop of 0.4%.
The pair is expected to find support at 0.6694, and a fall through could take it to the next support level of 0.6666. The pair is expected to find its first resistance at 0.6776, and a rise through could take it to the next resistance level of 0.6829.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
