AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.83% against the USD to close at 0.8986, as the Reserve Bank of Australia (RBA) Governor, Glenn Stevens, provided a less dovish guidance on inflation at the statement following the RBA’s rate decision.
LME Copper prices rose 1.1% or $76.0/MT to $7026.5/MT. Aluminium prices declined 0.1% or $2.5/MT to $1753.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.8965, with the AUD trading 0.23% lower from yesterday’s close.
This morning, economic data out from Australia showed that AiG performance of construction index rose to 44.1 in July from 39.5 in June.
The pair is expected to find support at 0.8920, and a fall through could take it to the next support level of 0.8876. The pair is expected to find its first resistance at 0.9008, and a rise through could take it to the next resistance level of 0.9052.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
