For the 24 hours to 23:00 GMT, the AUD declined 0.06% against the USD and closed at 0.7755.
LME Copper prices declined 2.52% or $174.5/MT to $6756.0/MT. Aluminium prices declined 1.44% or $32.5/MT to $2220.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7776, with the AUD trading 0.27% higher against the USD from yesterday’s close.
Earlier today, the Reserve Bank of Australia (RBA), in its semi-annual Financial Stability Report, stated that households are coping with the financial stress, but warned that dangers still persist. Further, the central bank highlighted the risks of rising interest rates on domestic consumption and its implications on economic growth prospects.
The pair is expected to find support at 0.7751, and a fall through could take it to the next support level of 0.7725. The pair is expected to find its first resistance at 0.7789, and a rise through could take it to the next resistance level of 0.7801.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
