AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.24% against the USD to close at 1.0229, after data showed that Australian trade deficit widened in August.
LME Copper prices declined 0.8% or $63.3/MT to $8275.8/MT. Aluminium prices declined 1.6% or $34.3/MT to $2069.5/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0217, with the AUD trading 0.12% lower from yesterday’s close.
This morning, in Australia, retail sales rose 0.2% (MoM) in August compared to a fall of 0.8% in July. Additionally, the building permits rose 6.4% (MoM) in August from a revised 21.2 % fall in July.
The pair is expected to find support at 1.0188, and a fall through could take it to the next support level of 1.0159. The pair is expected to find its first resistance at 1.0240, and a rise through could take it to the next resistance level of 1.0264.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
