AUD/USD: Australia’s services sector growth slowed in September


AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD traded flat against the USD and closed at 0.7834.

LME Copper prices declined 0.1% or $8.0/MT to $6447.0/MT. Aluminium prices rose 2.3% or $47.5/MT to $2114.5/MT.

In the Asian session, at GMT0300, the pair is trading at 0.7861, with the AUD trading 0.34% higher against the USD from yesterday’s close.

Overnight data revealed that Australia’s AiG performance of services index dropped to a level of 52.1 in September. In the previous month, the index had recorded a reading of 53.0.

The pair is expected to find support at 0.7806, and a fall through could take it to the next support level of 0.7752. The pair is expected to find its first resistance at 0.7895, and a rise through could take it to the next resistance level of 0.7930.

Going forward, investors will focus on Australia’s trade balance and retail sales data, both for August, slated to release overnight.

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

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