AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.56% against the USD and closed at 0.7843.
LME Copper prices rose 0.4% or $29.0/MT to $7032.0/MT. Aluminium prices rose 0.2% or $4.0/MT to $2194.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7827, with the AUD trading 0.2% lower against the USD from yesterday’s close.
The pair is expected to find support at 0.7795, and a fall through could take it to the next support level of 0.7762. The pair is expected to find its first resistance at 0.7860, and a rise through could take it to the next resistance level of 0.7892.
Next week, market participants would keep a close watch on Australia’s AiG performance of manufacturing index and private sector credit data.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
