AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.57% against the USD to close at 0.7449.
In economic news, Australia’s foreign exchange reserves dropped to A$67.28 billion, compared to a revised level of A$ 73.18 billion in the previous month.
LME Copper prices declined 2.32% or $129.5/MT to $5440.5/MT. Aluminium prices rose 0.06% or $1.0/MT to $1645.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7413, with the AUD trading 0.48% lower from yesterday’s close.
The pair is expected to find support at 0.7369, and a fall through could take it to the next support level of 0.7325. The pair is expected to find its first resistance at 0.7479, and a rise through could take it to the next resistance level of 0.7545.
Amid no economic releases in Australia today, the nation’s employment data, scheduled tomorrow, would grab lot of market attention.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
