AUDUSD Movement
On Friday, the AUD strengthened 0.71% against the USD to close at 0.9199.
LME Copper prices rose 1.5% or $107.5/MT to $7335.5/MT. Aluminium prices rose 1.8% or $34.0/MT to $1876.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9212, with the AUD trading 0.14% higher from Friday’s close.
In the morning release, new motor vehicle sales in Australia declined 3.5% (MoM) in July, following a revised 3.6% rise recorded in the previous month.
The pair is expected to find support at 0.9156, and a fall through could take it to the next support level of 0.9101. The pair is expected to find its first resistance at 0.9251, and a rise through could take it to the next resistance level of 0.9291.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
