AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.41% against the USD, on Friday, to close at 1.0212.
In the Asian session, at GMT0400, the pair is trading at 1.0171, with the AUD trading 0.40% lower from Friday’s close, amid reports showing a fall in Australian trade surplus.
In Australia, this morning, trade balance rose to a seasonally adjusted A$1.6 billion in October, compared to downwardly revised surplus of A$2.25 billion in September.
LME Copper prices traded flat to $7,800.30/ MT. Aluminium prices rose 0.3% or $7.0/MT to $2,066.30/ MT.
The pair is expected to find support at 1.0071, and a fall through could take it to the next support level of 0.9972. The pair is expected to find its first resistance at 1.0248, and a rise through could take it to the next resistance level of 1.0324.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
