AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.07% against the USD and closed at 0.6881.
LME Copper prices declined 1.4% or $84.0/MT to $5920.0/MT. Aluminium prices declined 1.1% or $19.0/MT to $1747.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.6873, with the AUD trading 0.12% lower against the USD from yesterday’s close.
Overnight data showed that Australia’s CBA manufacturing PMI advanced to a level of 51.1 in May, following a reading of 50.9 in the prior month. Moreover, the nation’s CBA services PMI rose to a level of 52.3 in May, compared to a level of 50.1 in the preceding month.
The pair is expected to find support at 0.6861, and a fall through could take it to the next support level of 0.6849. The pair is expected to find its first resistance at 0.6891, and a rise through could take it to the next resistance level of 0.6909.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
