AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened marginally against the USD to close at 0.7120.
LME Copper prices declined 0.97% or $47.5/MT to $4825.0/MT. Aluminium prices declined 0.57% or $8.5/MT to $1476.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7115, with the AUD trading marginally lower from Friday’s close.
The pair is expected to find support at 0.7090, and a fall through could take it to the next support level of 0.7064. The pair is expected to find its first resistance at 0.7151, and a rise through could take it to the next resistance level of 0.7186.
Moving ahead, market participants will closely watch the RBA meeting minutes, scheduled to be released early morning tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
