AUDUSD Movement
For the 24 hours to 23:00 GMT on Friday, AUD strengthened 0.67% against the USD to close at 0.9830.
LME Copper prices rose 0.5% or $35.3/MT to $ 7695.3/ MT. Aluminium prices rose 0.5% or $10.8/MT to $ 1979.3/ MT.
In the Asian session, at GMT0300, the pair is trading at 0.9852, with the AUD trading 0.22% higher from Friday’s close, as hopes grew that Greece would elect a pro-bailout party on June 17 election and stay in the Euro-zone. With three weeks to go before the Greek elections, latest opinion polls show that the two mainstream parties in favour of bailout programs could be able to form a coalition government after June 17.
The pair is expected to find support at 0.9765, and a fall through could take it to the next support level of 0.9679. The pair is expected to find its first resistance at 0.9900, and a rise through could take it to the next resistance level of 0.9947.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
