AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.35% against the USD to close at 0.7019.
LME Copper prices declined 1.29% or $66.0/MT to $5046.0/MT. Aluminium prices declined 0.73% or $11.5/MT to $1560.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7006, with the AUD trading 0.18% lower from yesterday’s close.
The pair is expected to find support at 0.6948, and a fall through could take it to the next support level of 0.6890. The pair is expected to find its first resistance at 0.7055, and a rise through could take it to the next resistance level of 0.7103.
Going ahead, Australia’s AiG performance of manufacturing index for September and retail sales data for August, due in the next week, would be keenly awaited by the investors.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
