AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.59% against the USD and closed at 0.7664.
LME Copper prices declined/rose 2.52% or $176.0/MT to $7147.0/MT. Aluminium prices rose 0.13% or $3.0/MT to $2317.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7650, with the AUD trading 0.18% lower against the USD from yesterday’s close.
Overnight data indicated that Australia’s AIG performance of construction index declined to a level of 54.0 in May, compared to a reading of 55.40 in the previous month.
Moreover, the nation’s seasonally adjusted trade surplus narrowed to AUD977.0 million in May, from a revised trade surplus of AUD1731.0 million in the prior month. Market participants had envisaged trade surplus to fall to AUD1000.0 million.
The pair is expected to find support at 0.7634, and a fall through could take it to the next support level of 0.7617. The pair is expected to find its first resistance at 0.7672, and a rise through could take it to the next resistance level of 0.7693.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
