AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.64% against the USD to close at 0.9633.
LME Copper prices declined 0.8% or $55.5/MT to $7201.5/MT. Aluminium prices rose 0.7% or $13.0/MT to $1821.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9683, with the AUD trading 0.52% higher from yesterday’s close.
This morning, building approvals in Australia jumped 9.1% (MoM) in April, from a 5.5% drop recorded in March. Separately, Australia’s private capital expenditure showed an unexpected drop in Q12013.
The pair is expected to find support at 0.9576, and a fall through could take it to the next support level of 0.9468. The pair is expected to find its first resistance at 0.9742, and a rise through could take it to the next resistance level of 0.9800.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
