AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.09% against the USD to close at 1.0545, on higher risk appetite amongst investors, after the Federal Reserve left benchmark US interest rates unchanged and stated that it would extend its bond-buying economic stimulus program.
LME Copper prices rose 0.4% or $32.5/MT to $8101.5/MT. Aluminium prices rose 0.2% or $4.0/MT to $2134.5/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0550, with the AUD trading slightly higher from yesterday’s close.
The pair is expected to find support at 1.0520, and a fall through could take it to the next support level of 1.0491. The pair is expected to find its first resistance at 1.0583, and a rise through could take it to the next resistance level of 1.0615.
The currency pair is showing convergence with its 20 Hr and trading above its 50 Hr moving average.
