AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.27% against the USD and closed at 0.7005.
In the Asian session, at GMT0300, the pair is trading at 0.7007, with the AUD trading marginally higher against the USD from yesterday’s close.
Overnight data showed that Australia’s private sector credit demand rose 0.2% on a monthly basis in May, at par with market expectations and compared to a similar rise in the prior month.
The pair is expected to find support at 0.6993, and a fall through could take it to the next support level of 0.6978. The pair is expected to find its first resistance at 0.7016, and a rise through could take it to the next resistance level of 0.7024.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
