AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.18% against the USD and closed at 0.7598 on Friday.
LME Copper prices rose 0.27% or $13.0/MT to $4787.0/MT. Aluminium prices rose 1.19% or $20.0/MT to $1701.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7605, with the AUD trading 0.09% higher against the USD from Friday’s close.
Overnight data revealed that, Australia’s private sector credit rose by 0.4% on a monthly basis in September, meeting market expectations and after recording a similar rise in the prior month.
The pair is expected to find support at 0.7571, and a fall through could take it to the next support level of 0.7537. The pair is expected to find its first resistance at 0.7623, and a rise through could take it to the next resistance level of 0.7641.
Going ahead, Australia’s AiG performance of manufacturing index for October, due to release overnight, would be on investor’s radar.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
