AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD dropped 0.16% against the USD to close at 0.9097.
LME Copper prices rose 0.5% or $35.0/MT to $7281.0/MT. Aluminium prices rose 0.4% or $7.0/MT to $1839.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9107, with the AUD trading 0.11% higher from yesterday’s close.
Data out this morning showed that, the Westpac-Melbourne Institute consumer sentiment index in Australia rose 3.5% to a reading of 105.7 in August compared to a 0.1% drop in July.
The pair is expected to find support at 0.9069, and a fall through could take it to the next support level of 0.9031. The pair is expected to find its first resistance at 0.9148, and a rise through could take it to the next resistance level of 0.9189.
The currency pair is showing convergence with its 20 Hr and is trading below 50 Hr moving average.
