AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.89% against the USD and closed at 0.7511.
LME Copper prices declined 2.78% or $134.5/MT to $4706.0/MT. Aluminium prices declined 0.03% or $0.5/MT to $1623.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7504, with the AUD trading 0.09% lower against the USD from yesterday’s close.
Overnight data indicated that, Australia’s AiG performance of construction index advanced to a level of 53.2 in June, entering into expansion territory and hitting its highest level in ten months, compared to a reading of 46.7 in the prior month.
The pair is expected to find support at 0.7426, and a fall through could take it to the next support level of 0.7348. The pair is expected to find its first resistance at 0.7560, and a rise through could take it to the next resistance level of 0.7616.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
