AUD/USD: Consumer Confidence In Australia On The Rise
GCI Financial | Jun 11, 2014 02:47AM ET
For the 24 hours to 23:00 GMT, the AUD strengthened 0.20% against the USD to close at 0.9372.
LME Copper prices rose 0.4% or $28.0/MT to $6695.5/MT. Aluminum prices declined 0.3% or $5.5/MT to $1865.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9377, with the AUD trading marginally higher from yesterday’s close.
Earlier today, at a Committee for Economic Development of Australia event, RBA’s Sarv Girn, highlighted the need for Australian companies to recognize the pace of digital change and adapt to it. In economic news, the Westpac (NYSE:WBK) Consumer Confidence Index in Australia rose to a reading of 93.2 in June from 92.9 in May.
The pair is expected to find support at 0.9356, and a fall through could take it to the next support level of 0.9335. The pair is expected to find its first resistance at 0.9392, and a rise through could take it to the next resistance level of 0.9407.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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