AUDUSD Movement
On Friday, the AUD strengthened 0.63% against the USD to close at 0.9397.
LME Copper prices declined 0.1% or $4.0/MT to $ 7026.5/MT. Aluminium prices declined 0.5% or $9.0/MT to $ 1958.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9390, with the AUD trading 0.07% lower from Friday’s close.
The pair is expected to find support at 0.9355, and a fall through could take it to the next support level of 0.9319. The pair is expected to find its first resistance at 0.9419, and a rise through could take it to the next resistance level of 0.9447.
Going forward, investors would turn all their attention to the RBA Assistant Governor, Guy Debelle’s speech scheduled later today.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
