AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.17% against the USD to close at 0.9012, as speculation of Fed tapering its asset-purchase programme later this year, continued to weigh on the demand of the riskier currencies.
LME Copper prices declined 0.5% or $40.0/MT to $ 7300.5/MT. Aluminium prices declined 1.2% or $22.5/MT to $ 1835.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.8988, with the AUD trading 0.27% lower from yesterday’s close.
The pair is expected to find support at 0.8946, and a fall through could take it to the next support level of 0.8904. The pair is expected to find its first resistance at 0.9051, and a rise through could take it to the next resistance level of 0.9114.
Investors are expected to take cues from global economic releases for further directions in the pair.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
