AUDUSD Movement
On Friday, the AUD weakened 0.21% against the USD to close at 0.7776.
LME Copper prices rose 0.45% or $27.0/MT to $6081.0/MT. Aluminium prices declined 0.59% or $11.0/MT to $1846.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7808, with the AUD trading 0.41% higher from Friday’s close.
The pair is expected to find support at 0.7763, and a fall through could take it to the next support level of 0.7718. The pair is expected to find its first resistance at 0.7849, and a rise through could take it to the next resistance level of 0.7890.
Looking ahead, market participants would keep a close eye on the RBA minutes from its recent monetary policy meeting, scheduled tomorrow.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
