AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.64% against the USD to close at 0.9221, buoyed by the RBA Governor, Glenn Stevens’ optimistic comments on the growth of the Australian economy.
LME Copper prices declined 0.1% or $4.5/MT to $6555.0/MT. Aluminium prices fell 0.6% or $11.0/MT to $1705.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.9237, with the AUD trading 0.17% higher from yesterday’s close.
The pair is expected to find support at 0.9190, and a fall through could take it to the next support level of 0.9142. The pair is expected to find its first resistance at 0.9266, and a rise through could take it to the next resistance level of 0.9294.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
