AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 1.12% against the USD, on Friday, to close at 1.0373, as signs that the global economy is slowing, reduced demand for higher-yielding assets.
In the Asian session at 3:00GMT, the pair is trading at 1.0413, 0.39% higher from Friday’s close at 23:00 GMT.
LME Copper prices declined 0.2% or $21.5/MT to $8,781.3/ MT. Aluminium prices declined 2.6% or $62.5/MT to $2,308.5/ MT.
The pair is expected to find first short term resistance at 1.0460, with the next resistance levels at 1.0508 and 1.0621, subsequently. The first support for the pair is seen at 1.0347, followed by next supports at 1.0282 and 1.0169 respectively.
The currency pair is trading between its 20 Hr and its 50 Hr moving averages.
