AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.32% against the USD and closed at 0.7583.
LME Copper prices rose 0.2% or $10.5/MT to $5828.5/MT. Aluminium prices rose 0.7% or $12.5/MT to $1925.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7585, with the AUD trading a tad higher against the USD from yesterday’s close.
Earlier today, data showed that Australia’s AiG performance of construction index declined to a level of 56.0 in June, following a level of 56.7 in the previous month.
The pair is expected to find support at 0.7566, and a fall through could take it to the next support level of 0.7548. The pair is expected to find its first resistance at 0.7609, and a rise through could take it to the next resistance level of 0.7634.
Moving ahead, investors will look forward to Australia’s NAB business confidence and Westpac consumer confidence data, slated to release next week.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
