AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD marginally strengthened against the USD to close at 0.9362, reversing its initial losses, triggered by soft economic releases from Australia and its largest trading partner, China.
LME Copper prices declined 0.7% or $45.5/MT to $6884.5/MT. Aluminium prices declined marginally by $0.5/MT to $1739.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9383, with the AUD trading 0.22% higher from yesterday’s close.
The pair is expected to find support at 0.9348, and a fall through could take it to the next support level of 0.9313. The pair is expected to find its first resistance at 0.9402, and a rise through could take it to the next resistance level of 0.9421.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
