AUD/USD: Australia’s Westpac consumer confidence climbed in October


AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD rose 0.32% against the USD and closed at 0.7779.

LME Copper prices rose 0.5% or $34.0/MT to $6641.0/MT. Aluminium prices declined 0.1% or $2.0/MT to $2133.0/MT.

In the Asian session, at GMT0300, the pair is trading at 0.7781, with the AUD trading marginally higher against the USD from yesterday’s close.

Earlier today, data indicated that Australia’s Westpac consumer confidence index advanced to a level of 101.4 in October, compared to a level of 97.9 in the prior month.

The pair is expected to find support at 0.7767, and a fall through could take it to the next support level of 0.7753. The pair is expected to find its first resistance at 0.7802, and a rise through could take it to the next resistance level of 0.7823.

Going ahead, investors will focus on Australia’s consumer inflation expectation for October, due to release overnight.

The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.

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