AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.58% against the USD to close at 1.0360, as investors shifted from higher-risk currencies, after Philadelphia Federal Reserve President, Charles Plosser said that the Fed’s new bond-buying program may not be effective to boost economic growth.
LME Copper prices rose 1.0% or $80.0/MT to $8235.3/MT. Aluminium prices rose 0.5% or $10.0/MT to $2068.5/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0358, with the AUD trading 0.02% lower from yesterday’s close.
The pair is expected to find support at 1.0321, and a fall through could take it to the next support level of 1.0283. The pair is expected to find its first resistance at 1.0429, and a rise through could take it to the next resistance level of 1.0500.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
