AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.35% against the USD to close at 1.0466, amid rise in the commodity prices.
In the Asian session at 3:00GMT, the pair is trading at 1.0512, 0.44% higher from yesterday’s close at 23:00 GMT.
LME Copper prices rose 1.3% or $110.0/MT to $8,869.8/ MT. Aluminium prices rose 0.4% or $8.8/MT to $2,347.0/ MT.
The pair is expected to find first short term resistance at 1.0567, with the next resistance levels at 1.0623 and 1.0742 subsequently. The first support for the pair is seen at 1.0448, followed by next supports at 1.0385 and 1.0266 respectively.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
