AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.45% against the USD to close at 0.7191.
LME Copper prices declined 0.66% or $31.0/MT to $4636.0/MT. Aluminium prices rose 0.61% or $9.0/MT to $1479.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7183, with the AUD trading 0.11% lower from Friday’s close.
Early morning data showed that private sector credit in Australia rose more-than-expected by 0.7% MoM in October, after registering a revised similar rise in the previous month. Investors had expected it to advance 0.6%.
The pair is expected to find support at 0.7155, and a fall through could take it to the next support level of 0.7128. The pair is expected to find its first resistance at 0.7226, and a rise through could take it to the next resistance level of 0.7269.
Going ahead, investors will look forward to Australia’s AiG performance of manufacturing index for November, scheduled to be released tonight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
