AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.31% against the USD to close at 0.8746.
LME Copper prices rose 0.01% or $0.5/MT to $6736.0/MT. Aluminium prices rose/declined 1.10% or $21.0/MT to $1935.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.8672, with the AUD trading 0.85% lower from yesterday’s close.
Earlier today, in Australia, the seasonally adjusted retail sales climbed 0.1%, on a monthly basis, in August, lower than market expectations for an advance of 0.4% and compared to a similar gain registered in the prior month. Additionally, the nation’s AiG performance of manufacturing index dropped to 46.5 in September after registering a level of 47.3 in August.
Elsewhere, in China, Australia’s biggest trading partner, data indicated that the manufacturing PMI remained flat at a level of 51.1 in September, though markets were expecting the index to fall to a level of 51.0.
The pair is expected to find support at 0.8635, and a fall through could take it to the next support level of 0.8599. The pair is expected to find its first resistance at 0.8739, and a rise through could take it to the next resistance level of 0.8807.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
