AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.41% against the USD and closed at 0.7308.
LME Copper prices declined 0.9% or $53.0/MT to $6065.0/MT. Aluminium prices rose 1.3% or $28.0/MT to $2116.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7290, with the AUD trading 0.25% lower against the USD from yesterday’s close.
Overnight data revealed that, Australia’s seasonally adjusted building approvals dropped 5.6% on an annual basis in July, more than market consensus for a fall of 3.0%. Building approvals had registered a revised rise of 1.8% in the prior month.
The pair is expected to find support at 0.7260, and a fall through could take it to the next support level of 0.7231. The pair is expected to find its first resistance at 0.7334, and a rise through could take it to the next resistance level of 0.7379.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
