AUDUSD Movement
On Friday, the AUD weakened 0.24% against the USD to close at 0.7733.
LME Copper prices declined 0.30% or $17.5/MT to $5888.5/MT. Aluminium prices remained unchanged at previous close of $1701.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7714, with the AUD trading 0.25% lower from Friday’s close.
The pair is expected to find support at 0.7676, and a fall through could take it to the next support level of 0.7637. The pair is expected to find its first resistance at 0.7754, and a rise through could take it to the next resistance level of 0.7794.
Meanwhile, investors would closely monitor speech from the RBA Assistant Governor, Christopher Kent, scheduled in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
