For the 24 hours to 23:00 GMT, the AUD rose 0.56% against the USD and closed at 0.7200.

LME Copper prices rose 1.3% or $85.5/MT to $6,526.0/MT. Aluminium prices climbed 1.7% or $30.0/MT to $1,739.0/MT.

In the Asian session, at GMT0300, the pair is trading at 0.7193, with the AUD trading 0.10% lower against the USD from yesterday’s close.

- advertisement -

The pair is expected to find support at 0.7164, and a fall through could take it to the next support level of 0.7136. The pair is expected to find its first resistance at 0.7231, and a rise through could take it to the next resistance level of 0.7270.

Moving ahead, traders would keep a watch on Australia’s AiG performance of services index for July, slated to release overnight.

The currency pair is trading between its 20 Hr and 50 Hr moving averages.


Please enter your comment!
Please enter your name here

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