AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.66% against the USD to close at 0.9480, after the Reserve Bank of Australia (RBA) Governor, Glenn Stevens, highlighted the possibility for the Aussie to be “materially lower” in the future.
LME Copper prices rose 0.8% or $54.5/MT to $7215.5/MT. Aluminium prices advanced 0.5% or $10.0/MT to $1849.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.9482, with the AUD trading tad higher from yesterday’s close.
In the Asian trading hours, the HIA new home sales in Australia rose 6.4% (MoM) in September, following a 3.4% increase seen in the preceding month.
The pair is expected to find support at 0.9452, and a fall through could take it to the next support level of 0.9423. The pair is expected to find its first resistance at 0.9517, and a rise through could take it to the next resistance level of 0.9553.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
