AUDUSD Movement
On Friday, the AUD strengthened 0.68% against the USD to close at 0.8922.
LME Copper prices rose 0.6% or $46.0/MT to $7264.5/MT. Aluminium prices rose 0.2% or $3.5/MT to $ 1739.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8945, with the AUD trading 0.26% higher from Friday’s close.
The pair is expected to find support at 0.8884, and a fall through could take it to the next support level of 0.8822. The pair is expected to find its first resistance at 0.8977, and a rise through could take it to the next resistance level of 0.9008.
With a void of economic releases from Australia, trading trends in the pair would be determined by global factors.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
