AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 1.03% against the USD to close at 1.0594, as risk appetite increased after the US Federal Reserve announced that it would keep interest rates at exceptionally low levels until at least through late 2014, amid a “highly accommodative” monetary policy.
In the Asian session, at GMT0400, the pair is trading at 1.0604, with the AUD trading 0.10% higher from yesterday’s close.
LME Copper prices rose 0.05% or $3.8/MT to $8270.5/ MT. Aluminium prices declined 4.5% or $4.5/MT to $2185.8/ MT.
The pair is expected to find support at 1.0493, and a fall through could take it to the next support level of 1.0381. The pair is expected to find its first resistance at 1.0668, and a rise through could take it to the next resistance level of 1.0731.
The currency pair is trading well above its 20 Hr and its 50 Hr moving averages.
