AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.3% against the USD and closed at 0.7967 on Friday.
LME Copper prices declined 0.2% or $16.0/MT to $6776.0/MT. Aluminium prices remained flat at $2113.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7966, with the AUD trading slightly lower against the USD from Friday’s close.
The pair is expected to find support at 0.7927, and a fall through could take it to the next support level of 0.7889. The pair is expected to find its first resistance at 0.7999, and a rise through could take it to the next resistance level of 0.8033.
Going ahead, traders will anxiously await the Reserve Bank of Australia’s (RBA) interest rate decision, due to be announced tomorrow.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
