AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.07% against the USD and closed at 0.6861.
LME Copper prices declined 0.6% or $33.0/MT to $5738.0/MT. Aluminium prices rose 0.4% or $7.0/MT to $1776.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.6857, with the AUD trading 0.06% lower against the USD from yesterday’s close.
Overnight data showed that Australia’s Westpac consumer confidence index fell 1.7% on monthly basis to a level of 98.2 in September. The index had registered a level of 100.0 in the prior month.
The pair is expected to find support at 0.6847, and a fall through could take it to the next support level of 0.6838. The pair is expected to find its first resistance at 0.6868, and a rise through could take it to the next resistance level of 0.6880.
Moving forward, traders would await Australia’s consumer inflation expectations for September, scheduled to release overnight.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
