AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 1.42% against the USD to close at 0.9485, after the Reserve Bank of Australia (RBA) kept its key interest rates unchanged at 4.75%.
RBA Governor, Glenn Stevens, yesterday, stated that the Central Bank was open to an interest rate cut in November if inflation pressures ease.
In economic news, this morning, the AiG Performance of Services Index in Australia declined to 50.3 in September, from 52.1 posted in August. Additionally, the retail sales rose 0.6% (M-o-M) in August, unchanged from the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9534, with the AUD trading 0.52% higher from the New York close.
LME Copper prices declined 0.2% or $10.3/MT to $6,784.5/ MT. Aluminium prices rose 0.6% or $12.5/MT to $2,132.5/ MT.
The pair is expected to find support at 0.9471, and a fall through could take it to the next support level of 0.9408. The pair is expected to find its first resistance at 0.9582, and a rise through could take it to the next resistance level of 0.9630.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
