AUDUSD Movement
On Friday, the AUD strengthened 0.55% against the USD to close at 0.9670.
LME Copper prices advanced 1.0% or $69.5/MT to $7241.5/MT. Aluminium prices rose 0.7% or $12.5/MT to $1808.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9661, with the AUD trading 0.09% lower from Friday’s close.
The pair is expected to find support at 0.9620, and a fall through could take it to the next support level of 0.9578. The pair is expected to find its first resistance at 0.9691, and a rise through could take it to the next resistance level of 0.9720.
Traders are keeping a tab of global economic news for further direction in the pair amid lack of economic releases from Australia.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
