AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.46% against the USD and closed at 0.6793 on Friday.
LME Copper prices rose 1.1% or $64.5/MT to $5763.0/MT. Aluminium prices declined 1.0% or $17.0/MT to $1721.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.6785, with the AUD trading 0.12% lower against the USD from Friday’s close.
Elsewhere, in China, trade surplus widened to $39.7 billion in September, compared to a revised surplus of $34.8 billion in the previous month.
The pair is expected to find support at 0.6767, and a fall through could take it to the next support level of 0.6749. The pair is expected to find its first resistance at 0.6807, and a rise through could take it to the next resistance level of 0.6829.
Going forward, traders would closely monitor the Reserve Bank of Australia’s (RBA) meeting minutes, set to release overnight.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
