AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.07% against the USD to close at 0.9079.
LME Copper prices declined 0.9% or $63.5MT to $6988.0/MT. Aluminium prices fell 1.2% or $20.0/MT to $1701.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.9082, with the AUD trading marginally higher from yesterday’s close. Early morning, the Reserve Bank of Australia (RBA) reported that private sector credit in the nation rose 0.3% (MoM) in October, in-line with market estimates and compared to a similar rate of rise registered in the preceding month.
The pair is expected to find support at 0.9042, and a fall through could take it to the next support level of 0.9001. The pair is expected to find its first resistance at 0.9137, and a rise through could take it to the next resistance level of 0.9191.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
