AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.74% against the USD to close at 0.9264, as lackluster domestic employment data spooked investors’ confidence. Meanwhile, speculation that the Fed might decide to taper its asset purchase programme, in its next week’s policy meeting, buoyed the demand for the US dollar.
LME Copper prices declined 1.7% or $119.5/MT to $7043.5/MT. Aluminium prices eased 0.5% or $9.5/MT to $1747.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9252, with the AUD trading 0.13% lower from yesterday’s close.
The pair is expected to find support at 0.9225, and a fall through could take it to the next support level of 0.9199. The pair is expected to find its first resistance at 0.9280, and a rise through could take it to the next resistance level of 0.9309.
Investors eye global economic news for further cues amid lack of economic releases from Australia.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
