AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.61% against the USD and closed at 0.6747.
LME Copper prices declined 0.1% or $3.0/MT to $5626.0/MT. Aluminium prices remained unchanged at $1697/MT.
In the Asian session, at GMT0300, the pair is trading at 0.6754, with the AUD trading 0.10% higher against the USD from yesterday’s close.
Overnight data showed that Australia’s seasonally adjusted retail sales rose 0.4% on a monthly basis in August, less than market expectations for a rise of 0.5%. In the prior month, retail sales had registered a revised flat reading.
The pair is expected to find support at 0.6718, and a fall through could take it to the next support level of 0.6683. The pair is expected to find its first resistance at 0.6774, and a rise through could take it to the next resistance level of 0.6795.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
