AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.65% against the USD to close at 0.7232.
LME Copper prices declined 0.39% or $18.5/MT to $4672.5/MT. Aluminium prices rose 0.53% or $8.0/MT to $1518.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7234, with the AUD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.7213, and a fall through could take it to the next support level of 0.7191. The pair is expected to find its first resistance at 0.7252, and a rise through could take it to the next resistance level of 0.7270.
With no economic releases in Australia today, investor sentiment would be governed by global macroeconomic news.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
