AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.54% against the USD to close at 0.7193.
LME Copper prices declined 3.72% or $174.5 /MT to $4515.5 /MT. Aluminium prices declined 3.46% or $51.0 /MT to $1424.0 /MT.
In the Asian session, at GMT0400, the pair is trading at 0.7199, with the AUD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.7173, and a fall through could take it to the next support level of 0.7148. The pair is expected to find its first resistance at 0.7217, and a rise through could take it to the next resistance level of 0.7235.
Going ahead, market participants will concentrate on Australia’s Westpac-MNI consumer sentiment data for November, scheduled to be released tomorrow.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
