AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.41% against the USD and closed at 0.6854 on Friday.
LME Copper prices rose 0.4% or $24.5/MT to $5751.0/MT. Aluminium prices rose 0.2% or $3.0/MT to $ 1729.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.6862, with the AUD trading 0.12% higher against the USD from Friday’s close.
Elsewhere, in China, Australia’s largest trading partner, the house price index rose 8.4% in September, compared to a rise of 8.8% in the prior month. Additionally, the People’s Bank of China kept its key interest rate unchanged at 4.2%.
The pair is expected to find support at 0.6837, and a fall through could take it to the next support level of 0.6813. The pair is expected to find its first resistance at 0.6876, and a rise through could take it to the next resistance level of 0.6891.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
