For the 24 hours to 23:00 GMT, the AUD rose 0.26% against the USD and closed at 0.6824.

LME Copper prices declined 0.1% or $6.5/MT to $5821.5/MT. Aluminium prices declined 0.5% or $9.5/MT to $1734.5/MT.

In the Asian session, at GMT0400, the pair is trading at 0.6816, with the AUD trading 0.12% lower against the USD from yesterday’s close.

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Overnight data showed that Australia’s Westpac leading index declined 0.1% on a monthly basis in October. In the previous month, the index had recorded a revised drop of 0.1%.

The pair is expected to find support at 0.6794, and a fall through could take it to the next support level of 0.6771. The pair is expected to find its first resistance at 0.6837, and a rise through could take it to the next resistance level of 0.6857.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.


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