AUD/USD: Australia’s consumer inflation expectations remained unchanged in October

AUD/USD: Australia’s consumer inflation expectations remained unchanged in October


AUDUSD

AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD declined 0.55% against the USD and closed at 0.7067.

LME Copper prices rose 1.2% or $75.0/MT to $6294.0/MT. Aluminium prices declined 0.1% or $2.5/MT to $2029.0/MT.

In the Asian session, at GMT0300, the pair is trading at 0.7073, with the AUD trading 0.08% higher against the USD from yesterday’s close.

Overnight data revealed that Australia’s consumer inflation expectations remained steady at a level of 4.0% in October.

The pair is expected to find support at 0.7034, and a fall through could take it to the next support level of 0.6996. The pair is expected to find its first resistance at 0.7121, and a rise through could take it to the next resistance level of 0.7170.

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

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