AUDUSD Movement
For the 24 hours to 23:00 GMT on Friday, AUD strengthened 0.12% against the USD to close at 1.0558, as the greenback continued to remain under pressure after the Federal Reserve on Thursday announced plans to stimulate the US economy.
LME Copper prices rose 4.3% or $345.0/MT to $8400.3/MT. Aluminium prices rose 4.6% or $95.0/MT to $2176.8/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0517, with the AUD trading 0.39% lower from Friday’s close.
The pair is expected to find support at 1.0480, and a fall through could take it to the next support level of 1.0442. The pair is expected to find its first resistance at 1.0590, and a rise through could take it to the next resistance level of 1.0662.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
