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)

COZ forex Chart:

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