AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.54% against the USD and closed at 0.8007.
LME Copper prices rose 0.1% or $5.0/MT to $6492.0/MT. Aluminium prices rose 2.0% or $41.0/MT to $2107.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.8016, with the AUD trading 0.11% higher against the USD from yesterday’s close.
Overnight data indicated that that Australia’s Westpac leading index retreated 0.08% in August on a monthly basis in August, after recording a revised gain of 0.09% in the previous month.
The pair is expected to find support at 0.7978, and a fall through could take it to the next support level of 0.7940. The pair is expected to find its first resistance at 0.8038, and a rise through could take it to the next resistance level of 0.8060.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
