AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.12% against the USD to close at 1.0339, as global growth concerns continued to weigh on riskier currencies.
LME Copper prices declined 0.6% or $45.5/MT to $7719.5/MT. Aluminium prices declined 1.4% or $26.3/MT to $1873.3/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0340, with the AUD trading marginally higher from yesterday’s close.
Today morning, the Australian Housing Industry Association (HIA) reported that new home sales declined 3.7% in September, the third consecutive monthly decline and compared to a 5.3% drop reported in August.
The pair is expected to find support at 1.0322, and a fall through could take it to the next support level of 1.0305. The pair is expected to find its first resistance at 1.0361, and a rise through could take it to the next resistance level of 1.0382.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
