AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.31% against the USD and closed at 0.7403.
LME Copper prices rose 4.9% or $270.5/MT to $5834.5/MT. Aluminium prices rose 0.5% or $8.5/MT to $1774.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7428, with the AUD trading 0.34% higher against the USD from yesterday’s close.
The pair is expected to find support at 0.7379, and a fall through could take it to the next support level of 0.7331. The pair is expected to find its first resistance at 0.7455, and a rise through could take it to the next resistance level of 0.7483.
Looking ahead, market participants await the release of Australia’s HIA new home sales and retail sales, both for October along with AiG performance of manufacturing index for November, all scheduled to release next week.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
