SYDNEY, July 5 — Australian shares are seen trading in a narrow range today as the market is set for a correction following the strong rally in the previous session.

The benchmark was getting little help from broader US peers as Wall Street was closed for a national holiday.

The local share price index futures rose 0.105 per cent, or 6 points, to 5,738, a 45.8-point discount to the underlying S&P/ASX 200 index close.

The benchmark climbed 1.8 per cent, its highest per centage gain since November, yesterday.

Oil prices shuffled sideways, while iron ore futures dropped nearly 3 per cent.

New Zealand’s benchmark S&P/NZX 50 index was flat in early trade. — Reuters