AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 1.50% against the USD to close at 0.8944.
LME Copper prices rose 0.91% or $63.0/MT to $6958.5/MT. Aluminium prices declined 0.15% or $3.0/MT to $1966.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.8965, with the AUD trading 0.23% higher from yesterday’s close.
Earlier today, the RBA indicated that the foreign exchange transaction surplus in Australia fell to A$381.0 million in August, following a surplus of A$433.0 million in the previous month.
The pair is expected to find support at 0.8907, and a fall through could take it to the next support level of 0.8848. The pair is expected to find its first resistance at 0.9055, and a rise through could take it to the next resistance level of 0.9144.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
