AUDUSD Movement
On Friday, the AUD strengthened 0.14% against the USD to close at 0.7191.
LME Copper prices declined 0.20% or $11.0/MT to $5358.0/MT. Aluminium prices rose 1.12% or $18.0/MT to $1624.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.717, with the AUD trading 0.29% lower from Friday’s close.
Earlier today, in China, Australia’s biggest trading partner, the MNI business sentiment index edge down to a level of 51.3 in August, from a revised level of 56.0 recorded in July.
The pair is expected to find support at 0.7127, and a fall through could take it to the next support level of 0.7084. The pair is expected to find its first resistance at 0.7248, and a rise through could take it to the next resistance level of 0.7326.
Moving ahead, investors would focus on Australia’s house price index, scheduled in the early hours of tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
