AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD slightly rose against the USD and closed at 0.6862.
LME Copper prices rose 0.5% or $27.0/MT to $5765.5/MT. Aluminium prices rose 0.9% or $16.5/MT to $1792.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.6872, with the AUD trading 0.15% higher against the USD from yesterday’s close.
Overnight data showed that Australia’s consumer inflation expectations eased to 3.1% in September, compared to 3.5% in the prior month.
The pair is expected to find support at 0.6857, and a fall through could take it to the next support level of 0.6841. The pair is expected to find its first resistance at 0.6885, and a rise through could take it to the next resistance level of 0.6897.
With no macroeconomic releases in Australia today, investors would look forward to global macroeconomic releases for further direction.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
