AUDUSD Movement
For the 24 hours to 23:00 GMT on Friday, AUD strengthened 1.02% against the USD to close at 1.0563.
LME Copper prices declined 0.8% or $59.8/MT to $7326.5/ MT. Aluminium prices declined 0.8% or $14.5/MT to $1806.3/ MT.
Over the weekend, the People’s Bank of China pledged to intensify monetary policy fine-tuning and improve credit policy to bolster the nation’s real economy.
In the Asian session, at GMT0300, the pair is trading at 1.0565, with the AUD trading flat from Friday’s close.
The pair is expected to find support at 1.0493, and a fall through could take it to the next support level of 1.0420. The pair is expected to find its first resistance at 1.0608, and a rise through could take it to the next resistance level of 1.0650.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
