For the 24 hours to 23:00 GMT, the AUD rose 0.26% against the USD and closed at 0.6977.

LME Copper prices rose 1.5% or $89.5/MT to $6,112.0/MT. Aluminium prices climbed 0.7% or $11.5/MT to $1,593.0/MT.

In the Asian session, at GMT0300, the pair is trading at 0.6963, with the AUD trading 0.20% lower against the USD from yesterday’s close.

- advertisement -

Overnight data showed that Australia’s AiG performance of services index eased to 31.5 in June, compared to a reading of 31.6 in the earlier month.

The pair is expected to find support at 0.6943, and a fall through could take it to the next support level of 0.6924. The pair is expected to find its first resistance at 0.6990, and a rise through could take it to the next resistance level of 0.7018.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.