COZ forex: For the past trading session to 23:00 GMT, AUD strengthened 0.41% against the USD to close at 1.0306.
LME Copper prices increase 0.1% or $11.5/MT to $8141.0/MT. Aluminium prices dropped 1.0% or $19.3/MT to $1930.5/MT.

In the Asian session, the pair is trading at 1.0313, with the AUD trading marginally higher from yesterday’s close, after a survey by Westpac and the Melbourne Institute revealed today morning, that a leading indicator of Australia’s economic activity rise at a faster pace than its long-term trend in August, for the first time in a year.

The annualized growth rate in the Westpac-Melbourne Institute leading index, which indicates the likely pace of economic activity three to nine months into the future, was 3.0% in August, just above its long term trend of 2.7%. The level of the leading index rise 0.5% to 286.0 in August, from 284.7 in July.

In technical analysis, the pair is predicted to find its first resistance at 1.0340, and a rose through could take it to the next resistance line of 1.0368. Meantime, the pair is predicted to find support at 1.0269, and a fell through could take it to the next support level of 1.0224.

The currency pair is trading above its 20 hours and its 50 hours moving averages.
(COZ forex UK)

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