AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 2.12% against the USD to close at 1.0361, after the US Federal Reserve indicated that it would maintain a low interest rate for at least the next two years.
In Australia, the consumer sentiment index fell by 3.5% in August to 89.6, from 92.8 in July.
In the Asian session at 3:00GMT, the pair is trading at 1.0350, 0.11% lower from yesterday’s close at 23:00 GMT.
LME Copper prices declined 2.1% or $187.8/MT to $8,850.8/ MT. Aluminium prices declined 0.6% or $14.5/MT to $2,390.3/ MT.
The pair is expected to find first short term resistance at 1.0537, with the next resistance levels at 1.0723 and 1.1216, subsequently. The first support for the pair is seen at 1.0044, followed by next supports at 0.9737 and 0.9244 respectively.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
