AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.35% against the USD to close at 0.7612, after the May manufacturing report from the US ISM delivered encouraging results.
LME Copper prices declined 1.94% or $118.0/MT to $5970.5/MT. Aluminium prices declined 0.82% or $14.0/MT to $1691.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7633, with the AUD trading 0.27% higher from yesterday’s close.
Earlier today, the RBA left its cash rate unchanged at a record low of 2%, in line with market predictions.
The pair is expected to find support at 0.7597, and a fall through could take it to the next support level of 0.7561. The pair is expected to find its first resistance at 0.7670, and a rise through could take it to the next resistance level of 0.7706.
Meanwhile, investors would keep a close eye on Australia’s crucial Q1 GDP data, scheduled tomorrow.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
