For the 24 hours to 23:00 GMT, the AUD rose 0.37% against the USD and closed at 0.7877.
LME Copper prices declined 0.7% or $51.5/MT to $6920.0/MT. Aluminium prices rose 1.0% or $22.0/MT to $2128.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7838, with the AUD trading 0.5% lower against the USD from yesterday’s close.
The pair is expected to find support at 0.7817, and a fall through could take it to the next support level of 0.7795. The pair is expected to find its first resistance at 0.7872, and a rise through could take it to the next resistance level of 0.7905.
Going ahead, market participants would keep a close watch on Australia’s consumer price inflation data, the sole important release next week.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
Which stock should you buy in your very next trade?
With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.
In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.
With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.