AUDUSD Movement
For the 24 hours to 23:00 GMT on Friday, the AUD weakened 0.61% against the USD to close at 1.0374.
LME Copper prices rose 1.1% or $93.0/MT to $8267.0/MT. Aluminium prices rose 1.3% or $26.0/MT to $2093.8/MT.
Over the weekend, in China, the HSBC purchasing mangers’ index manufacturing (PMI) rose to 47.9 in September, from a final reading of 47.6 in August.
In the Asian session, at GMT0300, the pair is trading at 1.0340, with the AUD trading 0.33% lower from Friday’s close.
This morning, the Australian Industry Group’s (AiG) Australian performance of manufacturing index, fell 1.2 points to 44.1 in September.
Meanwhile, the Chinese official manufacturing PMI rose to 49.8 in September, following a 49.2 reading in August.
The pair is expected to find support at 1.0286, and a fall through could take it to the next support level of 1.0233. The pair is expected to find its first resistance at 1.0433, and a rise through could take it to the next resistance level of 1.0527.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
