AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.12% against the USD to close at 0.7777.
LME Copper prices declined 0.11% or $6.5/MT to $5992.0/MT. Aluminium prices rose 0.29% or $5.0/MT to $1716.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7725, with the AUD trading 0.66% lower from yesterday’s close.
Earlier today, data showed that the seasonally adjusted Australian retail sales remained unchanged on a monthly basis in April, compared to a rise of 0.2% registered in the previous month. Markets were anticipating it to advance 0.3%. Meanwhile, the nation’s trade deficit widened more than forecasted to A$3888.0 million in April, from previous month’s deficit of A$1231.0 million.
The pair is expected to find support at 0.7684, and a fall through could take it to the next support level of 0.7642. The pair is expected to find its first resistance at 0.7791, and a rise through could take it to the next resistance level of 0.7857.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
