AUDUSD Movement
For the 24 hours to 23:00 GMT on Friday, AUD strengthened 0.69% against the USD to close at 1.0087.
LME Copper prices rose 2.0% or $144.3/MT to $7520.5/ MT. Aluminium prices declined 0.5% or $10.0/MT to $1914.3/ MT.
In the Asian session, at GMT0300, the pair is trading at 1.0107, with the AUD trading 0.2% higher from Friday’s close, as risk appetite increased after Greece’s largest pro-bailout parties won enough seats in the election to form a parliamentary majority, easing concern that the nation would leave the Euro-zone.
The pair is expected to find support at 1.0033, and a fall through could take it to the next support level of 0.9958. The pair is expected to find its first resistance at 1.0158, and a rise through could take it to the next resistance level of 1.0209.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
