AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD slightly rose against the USD and closed at 0.6863.
LME Copper prices rose 1.3% or $77.5/MT to $5842.5/MT. Aluminium prices rose/declined 1.0% or $18.5/MT to $1774.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.6869, with the AUD trading 0.09% higher against the USD from yesterday’s close.
The pair is expected to find support at 0.6854, and a fall through could take it to the next support level of 0.6838. The pair is expected to find its first resistance at 0.6890, and a rise through could take it to the next resistance level of 0.6910.
Moving forward, investors would await the Reserve Bank of Australia’s interest rate decision, Australia’s unemployment rate and house price index, due to release next week.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
