For the 24 hours to 23:00 GMT, AUD weakened 0.20% against the USD to close at 0.9364. The US Dollar advanced against the Aussie as lingering concerns over the US lawmakers’ decision on the nation’s budget, lured investors to take refuge under the safe-haven, greenback.
LME Copper prices rose 0.2% or $14.5/MT to $7155.0/MT. Aluminium prices declined 0.1% or $1.5/MT to $1752.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9364, with the AUD trading flat from yesterday’s close.
The pair is expected to find support at 0.9337, and a fall through could take it to the next support level of 0.9310. The pair is expected to find its first resistance at 0.9390, and a rise through could take it to the next resistance level of 0.9416.
With lack of economic releases in Australia, traders are closely monitoring global economic news for further direction in the pair.
The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.