AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.43% against the USD to close at 0.7333.
LME Copper prices rose 1.25% or $66.0/MT to $5344.0/MT. Aluminium prices declined 0.10% or $1.5/MT to $1567.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7299, with the AUD trading 0.47% lower from yesterday’s close.
The pair is expected to find support at 0.7255, and a fall through could take it to the next support level of 0.7211. The pair is expected to find its first resistance at 0.7354, and a rise through could take it to the next resistance level of 0.7409.
Moving ahead, market participants will look forward to the RBA meeting minutes, scheduled to be released next week. In addition to this, China’s GDP, retail sales and industrial production data, all scheduled to release next week, will grab a significant amount of investor attention.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
