AUDUSD Movement
On Friday, the AUD strengthened 1.14% against the USD to close at 0.9213, amid a rise in Chinese retail sales, industrial production and CPI data.
LME Copper prices rose 0.9% or $64.5/MT to $7186.0/MT. Aluminium prices rose 2.2% or $39.5/MT to $1821.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9201, with the AUD trading 0.13% lower from Friday’s close.
The pair is expected to find support at 0.9126, and a fall through could take it to the next support level of 0.9050. The pair is expected to find its first resistance at 0.9250, and a rise through could take it to the next resistance level of 0.9298.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
