AUDUSD Movement
For the 24 hours to 23:00 GMT on Friday, the AUD strengthened 0.34% against the USD to close at 1.0567.
LME Copper prices rose 0.6% or $47.0/MT to $8047.3/MT. Aluminium prices rose 0.5% or $11.0/MT to $2132.3/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0540, with the AUD trading 0.25% lower from Friday’s close.
The pair is expected to find support at 1.0513, and a fall through could take it to the next support level of 1.0486. The pair is expected to find its first resistance at 1.0573, and a rise through could take it to the next resistance level of 1.0605.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
