AUDUSD Movement
On Friday, the AUD weakened 0.15% against the USD to close at 0.9250, as risk appetite among investors reduced ahead of Fed’s policy meeting, next week, in which the US central bank is expected to take a decision on its $85 billion per month asset purchase programme.
LME Copper prices declined 0.2% or $15.0/MT to $7028.5/MT. Aluminium prices ended flat at $1747.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9329, with the AUD trading 0.85% higher from Friday’s close.
The pair is expected to find support at 0.9250, and a fall through could take it to the next support level of 0.9171. The pair is expected to find its first resistance at 0.9380, and a rise through could take it to the next resistance level of 0.9431.
With no major economic release in Australia, investors eye global economic news for further guidance.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
