AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.11% against the USD to close at 1.0714, after the RBA held its base interest rate unchanged and stated that the current policy settings are “appropriate.”
In the Asian session at 3:00GMT, the pair is trading at 1.0654, 0.56% lower from yesterday’s close at 23:00 GMT.
In the morning news, new home loans in Australia rose 4.8% in April, the biggest gain since March 2009.
LME Copper prices declined 0.1% or $5.8/MT to $9,091.8/ MT. Aluminium prices rose 1.4% or $37.5/MT to $2,664.3/ MT.
The pair is expected to find first short term resistance at 1.0727, with the next resistance levels at 1.0799 and 1.0918, subsequently. The first support for the pair is seen at 1.0608, followed by next supports at 1.0561 and 1.0442 respectively.
The currency pair is trading below its 20 Hr and its 50 Hr moving averages.
