AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.2% against the USD and closed at 0.7603.
LME Copper prices rose 0.93% or $44.0/MT to $4786.0/MT. Aluminium prices rose 0.18% or $3.0/MT to $1678.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7568, with the AUD trading 0.46% lower against the USD from yesterday’s close.
Early morning data indicated that, Australia’s NAB business confidence index remained steady at a level of 6.0 in September.
The pair is expected to find support at 0.7542, and a fall through could take it to the next support level of 0.7517. The pair is expected to find its first resistance at 0.7610, and a rise through could take it to the next resistance level of 0.7653.
Moving forward, Australia’s Westpac consumer confidence index for October, slated to release overnight, would be on investor’s radar.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
