AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.07% against the USD and closed at 0.7142.
LME Copper prices declined 1.5% or $94.0/MT to $6202.0/MT. Aluminium prices declined 0.3% or $6.0/MT to $2022.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7133, with the AUD trading 0.13% lower against the USD from yesterday’s close.
Overnight data showed that Australia’s Westpac leading index slid 0.06% on a monthly basis in September. In the previous month, the index had recorded a revised rise of 0.03%.
The pair is expected to find support at 0.7113, and a fall through could take it to the next support level of 0.7093. The pair is expected to find its first resistance at 0.7152, and a rise through could take it to the next resistance level of 0.7171.
Moving forward, investors would await Australia’s unemployment rate for September followed by 3Q NAB business confidence, set to release overnight.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
