AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.97% against the USD and closed at 0.7428 on Friday.
LME Copper prices rose 14.8% or $784.0/MT to $6073.0/MT. Aluminium prices rose 0.6% or $13.0/MT to $2075.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7419, with the AUD trading 0.12% lower against the USD from Friday’s close.
The pair is expected to find support at 0.7359, and a fall through could take it to the next support level of 0.7300. The pair is expected to find its first resistance at 0.7458, and a rise through could take it to the next resistance level of 0.7498.
In absence of key economic releases in Australia today, investor sentiment would be determined by global macroeconomic events.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
