AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.12% against the USD to close at 0.9500.
LME Copper prices declined 0.6% or $41.5/MT to $7138.5/MT. Aluminium prices fell 1.1% or $20.5/MT to $1767.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.9518, with the AUD trading 0.19% higher from yesterday’s close. Early morning, a report from Australia, showed that the nation’s trade deficit narrowed more-than-expected to a level of $284 million in September, from a deficit of $693 million recorded in August.
The pair is expected to find support at 0.9474, and a fall through could take it to the next support level of 0.9429. The pair is expected to find its first resistance at 0.9551, and a rise through could take it to the next resistance level of 0.9583.
Later today, the Australian Industry Group and the Housing Industry Association are expected to release a report on the performance of construction index in Australia.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
