AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.46% against the USD and closed at 0.7002 on Friday.
LME Copper prices rose 1.1% or $69.5/MT to $6,454.5/MT. Aluminium prices declined 0.6% or $9.0/MT to $1,618.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.6976, with the AUD trading 0.37% lower against the USD from Friday’s close.
The pair is expected to find support at 0.6964, and a fall through could take it to the next support level of 0.6953. The pair is expected to find its first resistance at 0.6996, and a rise through could take it to the next resistance level of 0.7017.
Looking forward, traders would keep a watch on Reserve Bank of Australia’s meeting minute, slated to release overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
