AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 1.28% against the USD to close at 0.9678, amid uncertainty whether Greece can get help to avoid a debt default and amid a broad commodity sell-off.
However, in the Asian session at 3:00GMT, the Australian Dollar is trading at 0.9872, 2.00% higher from yesterday’s close at 23:00 GMT, as global rally in equities, boosted demand for higher-yielding assets.
LME Copper prices declined 0.8% or $59.5/MT to $7,225.5/ MT. Aluminium prices rose 1.2% or $25.5/MT to $2,195.3/ MT.
The pair is expected to find first short term resistance at 0.9963, with the next resistance levels at 1.0053 and 1.0314, subsequently. The first support for the pair is seen at 0.9702, followed by next supports at 0.9531 and 0.9270 respectively.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
