AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 1.08% against the USD and closed at 0.6918.
LME Copper prices declined 0.2% or $10.5/MT to $5,825.0/MT. Aluminium prices fell 0.3% or $5.0/MT to $1,573.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.6922, with the AUD trading 0.06% higher against the USD from yesterday’s close.
Overnight data showed that Australia’s Commonwealth Bank manufacturing PMI rose to 49.8 in June, more than market expectations for a rise to 49.3 and compared to a reading of 44.0 in the previous month. Additionally, the Commonwealth Bank services PMI unexpectedly surged to 53.2 in June, defying market expectations for a drop to a level of 25.7 and compared to a reading of 26.9 in the prior month.
The pair is expected to find support at 0.6863, and a fall through could take it to the next support level of 0.6804. The pair is expected to find its first resistance at 0.6958, and a rise through could take it to the next resistance level of 0.6994.
The currency pair is trading above with its 20 Hr and 50 Hr moving averages.
