AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.31% against the USD, on Friday, to close at 1.0626, after a data showed that China’s inflation slowed in August.
In the economic news this morning, the trade surplus in Australia, rose less-than-expected to A$1.83 billion in July, from A$1.82 billion in June.
In the Asian session at 3:00GMT, the Australian Dollar is trading at 1.0375, 2.36% lower from Friday’s close at 23:00 GMT.
LME Copper prices declined 1.5% or $136.5/MT to $8,904.3/ MT. Aluminium prices declined 1.0% or $23.0/MT to $2,342.5/ MT.
The pair is expected to find first short term resistance at 1.0557, with the next resistance levels at 1.0739 and 1.1021, subsequently. The first support for the pair is seen at 1.0275, followed by next supports at 1.0175 and 0.9893 respectively.
The currency pair is trading well below its 20 Hr and its 50 Hr moving averages.
