AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.31% against the USD to close at 0.9246.
LME Copper prices rose 1.3% or $89.0/MT to $6726.5/MT. Aluminium prices rose 0.9% or $15.5/MT to $1744.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9248, with the AUD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9196, and a fall through could take it to the next support level of 0.9145. The pair is expected to find its first resistance at 0.9299, and a rise through could take it to the next resistance level of 0.9351.
In the absence of any major economic event in Australia today, investor shall track the US GDP data to determine the direction of the pair.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
