AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.97% against the USD to close at 0.7326.
LME Copper prices rose 3.08% or $159.0/MT to $5319.0/MT. Aluminium prices rose/declined 3.54% or $55.0/MT to $1607.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7337, with the AUD trading 0.15% higher from Friday’s close.
The pair is expected to find support at 0.7285, and a fall through could take it to the next support level of 0.7233. The pair is expected to find its first resistance at 0.7370, and a rise through could take it to the next resistance level of 0.7402.
Going ahead, investors will concentrate on Australia’s NAB business confidence data and China’s trade balance data, both for the month of September, scheduled to be released in the early hours tomorrow.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
