AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.66% against the USD to close at 0.9363, amid a broad decline in the USD.
LME Copper prices declined 1.4% or $102.5/MT to $7021.5/MT. Aluminium prices fell 0.5% or $9.0/MT to $1746.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.9342, with the AUD trading 0.22% lower from yesterday’s close. Early morning, a report from Australia, showed that consumer expectations of future inflation dropped to 1.9% in October, compared to a 2.0% reading in the previous month.
The pair is expected to find support at 0.9283, and a fall through could take it to the next support level of 0.9225. The pair is expected to find its first resistance at 0.9394, and a rise through could take it to the next resistance level of 0.9447.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
