AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.57% against the USD to close at 0.9543.
LME Copper prices rose 0.5% or $35.0/MT to $7161.0/MT. Aluminium prices advanced 1.8% or $32.0/MT to $1839.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.9512, with the AUD trading 0.32% lower from yesterday’s close, after the Reserve Bank of Australia (RBA) Governor, Glenn Stevens, stated that the Australian Dollar is still very high and cautioned that at some point in the future the Australian Dollar will go materially lower than it is today.
The pair is expected to find support at 0.9470, and a fall through could take it to the next support level of 0.9428. The pair is expected to find its first resistance at 0.9589, and a rise through could take it to the next resistance level of 0.9666.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
