AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.37% against the USD and closed at 0.7487 on Friday.
LME Copper prices rose 0.14% or $6.5/MT to $4733.5/MT. Aluminium prices ended flat to trade at $1560.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7533, with the AUD trading 0.61% higher against the USD from Friday’s close.
Earlier today, in China, Australia’s largest trading partner, the house price index advanced by 9.2% in August, following a gain of 7.9% in the prior month.
The pair is expected to find support at 0.7491, and a fall through could take it to the next support level of 0.7449. The pair is expected to find its first resistance at 0.7557, and a rise through could take it to the next resistance level of 0.7581.
Moving ahead, investors would closely monitor minutes of the Reserve Bank of Australia’s latest monetary policy meeting, scheduled to be released in the early hours’ tomorrow.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
