AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.78% against the USD to close at 0.7175.
LME Copper prices rose 2.20% or $100.0/MT to $4650.0/MT. Aluminium prices rose 1.72% or $25.5/MT to $1508.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7161, with the AUD trading 0.2% lower from Friday’s close.
The pair is expected to find support at 0.7117, and a fall through could take it to the next support level of 0.7073. The pair is expected to find its first resistance at 0.7203, and a rise through could take it to the next resistance level of 0.7246.
Amid no economic releases in Australia today, investor sentiment would be governed by global macroeconomic news.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
