AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.17% against the USD to close at 0.9450.
LME Copper prices rose 0.8% or $60.5/MT to $7231.5/MT. Aluminium prices advanced 1.5% or $27.5/MT to $1818.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9431, with the AUD trading 0.20% lower from yesterday’s close. Early in the morning, a report from Australia, showed that the Westpac consumer confidence declined 2.1% in October, following a 4.7% increase witnessed in the previous month.
The pair is expected to find support at 0.9399, and a fall through could take it to the next support level of 0.9366. The pair is expected to find its first resistance at 0.9475, and a rise through could take it to the next resistance level of 0.9518.
With no major economic releases in Australia, traders are monitoring global economic news for further direction in the pair.
The currency pair is trading between its 20 Hr and 50 Hr moving average.
