AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.28% against the USD, on Friday, to close at 1.0672.
In Australia, this morning, the private sector credit rose 0.5% (M-o-M) in September following a 0.2% increase in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.0527, with the AUD trading 1.36% lower from Friday’s close.
LME Copper prices declined 0.7% or $58.3/MT to $7,981.3/ MT. Aluminium prices declined 0.6% or $12.5/MT to $2,221.3/ MT.
The pair is expected to find support at 1.0455, and a fall through could take it to the next support level of 1.0384. The pair is expected to find its first resistance at 1.0665, and a rise through could take it to the next resistance level of 1.0804.
The pair is expected to trade on the cues from the release of AiG performance of manufacturing index in Australia.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
