AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.47% against the USD to close at 1.0269.
In the Asian session at 3:00GMT, the Australian Dollar is trading at 0.9999, 2.63% lower from yesterday’s close at 23:00 GMT, after the release of poor Chinese manufacturing data.
HSBC’s preliminary manufacturing Purchasing Managers’ Index (PMI) in China declined to 49.4 in September, from 49.9 in the previous month.
LME Copper prices declined 2.1% or $176.8/MT to $8,220.5/ MT. Aluminium prices declined 1.6% or $37.5/MT to $2,266.3/ MT.
The pair is expected to find first short term resistance at 1.0196, with the next resistance levels at 1.0393 and 1.0691, subsequently. The first support for the pair is seen at 0.9898, followed by next supports at 0.9797 and 0.9499 respectively.
The currency pair is trading well below its 20 Hr and 50 Hr moving averages.
