AUDUSD Movement
On Friday, the AUD weakened 0.74% against the USD to close at 0.9160.
LME Copper prices rose 1.1 % or $73.5/MT to $7065.5/MT. Aluminium prices advanced 1.0% or $16.5/MT to $1747.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.9156, with the AUD trading marginally lower from Friday’s close.
The pair is expected to find support at 0.9129, and a fall through could take it to the next support level of 0.9101. The pair is expected to find its first resistance at 0.9197, and a rise through could take it to the next resistance level of 0.9237.
The Reserve Bank of Australia (RBA) Deputy Governor, Philip Lowe, is scheduled to deliver a keynote address at a conference in Sydney, later today.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
