AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.75% against the USD to close at 0.9208.
LME Copper prices declined 1.47% or $103.5 to $6937.0/MT. Aluminium prices declined 1.78% or $37.0/MT to $2045.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9169, with the AUD trading 0.42% lower from yesterday’s close.
Early morning data indicated that, Westpac consumer confidence index in Australia declined sharply in September, easing 4.6% to a score of 94.0, following 3.8% increase to 98.5 in the previous month.
The pair is expected to find support at 0.9124, and a fall through could take it to the next support level of 0.9079. The pair is expected to find its first resistance at 0.9252, and a rise through could take it to the next resistance level of 0.9335.
Going forward, investors would keep a close eye on Australia’s unemployment rate, scheduled for tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
