AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.37% against the USD and closed at 0.7877.
LME Copper prices declined 0.7% or $51.5/MT to $6920.0/MT. Aluminium prices rose 1.0% or $22.0/MT to $2128.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7838, with the AUD trading 0.5% lower against the USD from yesterday’s close.
The pair is expected to find support at 0.7817, and a fall through could take it to the next support level of 0.7795. The pair is expected to find its first resistance at 0.7872, and a rise through could take it to the next resistance level of 0.7905.
Going ahead, market participants would keep a close watch on Australia’s consumer price inflation data, the sole important release next week.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
