AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.07% against the USD to close at 0.8748.
LME Copper prices rose 0.1% or $4.5/MT to $7095.5/MT. Aluminium prices declined 0.3% or $5.0/MT to $1658.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8882, with the AUD trading 1.53% higher from yesterday’s close, after the Reserve Bank of Australia (RBA) left its interest rate unchanged at 2.5% and indicated that the current “monetary policy is appropriate to foster sustainable growth” in the economy.
The pair is expected to find support at 0.8776, and a fall through could take it to the next support level of 0.8669. The pair is expected to find its first resistance at 0.8942, and a rise through could take it to the next resistance level of 0.9001.
Later during the day, the Australian Industry Group (AiG) is expected to report the performance of its service index for Australia.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
