AUDUSD Movement
On Friday, the AUD weakened 0.93% against the USD to close at 0.9066.
LME Copper prices declined 1.4% or $99.5/MT to $6821.0/MT. Aluminium prices declined 1.4% or $24.5/MT to $1743.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9056, with the AUD trading 0.11% lower from Friday’s close.
The pair is expected to find support at 0.9004, and a fall through could take it to the next support level of 0.8952. The pair is expected to find its first resistance at 0.9145, and a rise through could take it to the next resistance level of 0.9234.
In the absence of any major event on the macro front, investors shall track general market trend for trading cues in the pair.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
