AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.14% against the USD to close at 0.9133.
LME Copper prices declined 0.6% or $44.5/MT to $7228.0/MT. Aluminium prices rose 0.4% or $7.5/MT to $1842.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9169, with the AUD trading 0.39% higher from yesterday’s close.
The pair is expected to find support at 0.9087, and a fall through could take it to the next support level of 0.9006. The pair is expected to find its first resistance at 0.9221, and a rise through could take it to the next resistance level of 0.9274.
With no Australian economic releases on the deck today, the AUD is likely to take cues from external factors. Additionally investors await the outcome of the minutes of the Reserve Bank of Australia’s August 6 meeting, next week.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
