AUDUSD Movement
On Friday, the AUD strengthened marginally against the USD to close at 0.9399.
LME Copper prices rose 0.7% or $48.5/MT to $6686.0/MT. Aluminium prices declined 0.7% or $13.0/MT to $1840.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9398, with the AUD trading tad lower from Friday’s close.
The pair is expected to find support at 0.9365, and a fall through could take it to the next support level of 0.9331. The pair is expected to find its first resistance at 0.9430, and a rise through could take it to the next resistance level of 0.9461.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
