AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.80% against the USD to close at 1.0806, as the Reserve Bank of Australia surprised markets at its latest monetary policy meeting and left interest rates unchanged at 4.25%.
In the Asian session, at GMT0400, the pair is trading at 1.0793, with the AUD trading 0.12% lower from yesterday’s close.
LME Copper prices declined 1.5% or $127.3/MT to $8335.3/ MT. Aluminium prices declined 0.1% or $2.8/MT to $2172.5/ MT.
The pair is expected to find support at 1.0722, and a fall through could take it to the next support level of 1.0652. The pair is expected to find its first resistance at 1.0843, and a rise through could take it to the next resistance level of 1.0893.
The Australian economic calendar being almost empty today, the AUD is expected to ride on other market cues.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
