AUDUSD Movement
On Friday, the AUD strengthened 0.13% against the USD to close at 0.7377.
LME Copper prices rose 0.16% or $8.0/MT to $5156.0 /MT. Aluminium prices rose 0.10% or $1.5 /MT to $1540.5 /MT.
In the Asian session, at GMT0300, the pair is trading at 0.7381, with the AUD trading a tad higher from Friday’s close.
The pair is expected to find support at 0.7357, and a fall through could take it to the next support level of 0.7334. The pair is expected to find its first resistance at 0.7402, and a rise through could take it to the next resistance level of 0.7423.
Meanwhile, the RBA minutes from its latest monetary policy meeting, scheduled in the early hours tomorrow would be closely monitored by investors.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
