AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.22% against the USD and closed at 0.7691.
LME Copper prices declined 0.02% or $1.0/MT to $6015.0/MT. Aluminium prices declined 0.4% or $7.0/MT to $1878.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7697, with the AUD trading 0.08% higher against the USD from yesterday’s close.
The pair is expected to find support at 0.7678, and a fall through could take it to the next support level of 0.7660. The pair is expected to find its first resistance at 0.7717, and a rise through could take it to the next resistance level of 0.7738.
Moving ahead, investors will focus on RBA’s recent meeting minutes and a speech by its Governor Philip Lowe, both scheduled next week.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
