AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.59% against the USD to close at 0.9308.
LME Copper prices fell 1.2% or $82.5/MT to $6939.0/MT. Aluminium prices declined 0.3% or $5.5/MT to $1740.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.9344, with the AUD trading 0.39% higher from yesterday’s close.
The pair is expected to find support at 0.9297, and a fall through could take it to the next support level of 0.9250. The pair is expected to find its first resistance at 0.9374, and a rise through could take it to the next resistance level of 0.9404.
Amid lack of economic data from Australia, market participants are eyeing global economic news for further direction in the pair.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
