AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.79% against the USD to close at 1.0253, after reports showed strong Chinese retail sales and industrial production growth.
This morning, the Westpac Leading Index, in Australia, rose 0.8% (M-o-M) in August, following a 0.5% increase in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.0271, with the AUD trading 0.18% higher from yesterday’s close.
LME Copper prices declined 3.9% or $294.5/MT to $7,271.0/ MT. Aluminium prices declined 2.3% or $51.5/MT to $2,157.5/ MT.
The pair is expected to find support at 1.0150, and a fall through could take it to the next support level of 1.0030. The pair is expected to find its first resistance at 1.0359, and a rise through could take it to the next resistance level of 1.0448.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
