AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened marginally against the USD to close at 1.0374.
LME Copper prices rose 1.2% or $97.3/MT to $8209.5/MT. Aluminium prices rose 2.0% or $39.0/MT to $1971.3/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0364, with the AUD trading 0.09% lower from yesterday’s close.
Data released this morning in China showed that the MNI flash business sentiment indicator rose to a reading of 51.5 in October, compared to a reading of 51.3 in the previous month.
The pair is expected to find support at 1.0342, and a fall through could take it to the next support level of 1.0319. The pair is expected to find its first resistance at 1.0399, and a rise through could take it to the next resistance level of 1.0434.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
