AUDUSD Movement
On Friday, the AUD strengthened 0.48% against the USD to close at 0.8754.
LME Copper prices declined 0.90% or $60.5/MT to $6695.0/MT. Aluminium prices declined 2.15% or $44.5/MT to $2020.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8788, with the AUD trading 0.39% higher from Friday’s close.
Earlier today, data from Australia indicated that new motor vehicle sales climbed 1.6% on a monthly basis in October, after registering a gain of 2.9% in the previous month.
The pair is expected to find support at 0.8691, and a fall through could take it to the next support level of 0.8595. The pair is expected to find its first resistance at 0.8841, and a rise through could take it to the next resistance level of 0.8895.
Meanwhile, market participants await the RBA minutes from its latest meeting coupled with the RBA Governor, Glenn Stevens speech, scheduled tomorrow.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
