AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.45% against the USD to close at 0.9289, as disappointing US GDP figures raised investor expectations that the US Federal Reserve may hold off on reining in its economic stimulus program.
LME Copper prices declined 0.6% or $41.0/MT to $6685.5/MT. Aluminium prices declined 0.7% or $11.5/MT to $1733.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.932, with the AUD trading 0.33% higher from yesterday’s close.
The pair is expected to find support at 0.9256, and a fall through could take it to the next support level of 0.9191. The pair is expected to find its first resistance at 0.9366, and a rise through could take it to the next resistance level of 0.9411.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
