AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.13% against the USD to close at 1.0305.
In the Asian session, at GMT0400, the pair is trading at 1.0256, with the AUD trading 0.48% lower from yesterday’s close, following the release of retail sales report for the month of September.
In Australia, this morning, the AiG Performance of Services Index declined to 48.8 in October compared to 50.3 in September. Additionally, retail sales rose 0.4% (M-o-M) in September compared to a 0.6% rise in the previous month.
LME Copper prices rose 3.3% or $254.3/MT to $7,911.8/ MT. Aluminium prices rose 0.6% or $11.8/MT to $2,103.3/ MT.
The pair is expected to find support at 1.0167, and a fall through could take it to the next support level of 1.0077. The pair is expected to find its first resistance at 1.0387, and a rise through could take it to the next resistance level of 1.0517.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
