AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.40% against the USD and closed at 0.7759.
LME Copper prices declined 1.5% or $101.0/MT to $6852.0/MT. Aluminium prices fell 0.7% or $15.5/MT to $2143.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7756, with the AUD trading slightly lower against the USD from yesterday’s close.
The pair is expected to find support at 0.7721, and a fall through could take it to the next support level of 0.7687. The pair is expected to find its first resistance at 0.7782, and a rise through could take it to the next resistance level of 0.7809.
Moving ahead, Australia’s AiG performance of service index, building approvals, services PMI, retail sales, gross domestic product and trade balance all slated to release next week, would keep investors on their toes.
The currency pair is trading above its 20 Hr and showing convergence with its 50 Hr moving average.
