AUDUSD Movement

For the 24 hours to 23:00 GMT on Friday, AUD strengthened 0.16% against the USD to close at 1.0063, as investor sentiment strengthened, after the European Central Bank relaxed rules on collateral for central-bank loans.

LME Copper prices declined 1.4% or $106.3/MT to $7319.5/ MT. Aluminium prices declined 1.4% or $18.5/MT to $1823.3/MT.

In the Asian session, at GMT0300, the pair is trading at 1.0029, with the AUD trading 0.34% lower from Friday’s close.

The pair is expected to find support at 0.9999, and a fall through could take it to the next support level of 0.9969. The pair is expected to find its first resistance at 1.0068, and a rise through could take it to the next resistance level of 1.0107.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.