AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.53% against the USD to close at 0.9131 as risk appetite among investor got a lift from President Vladimir Putin’s comments that Russia wasn’t seeking to split Ukraine further.
LME Copper prices declined 1.2% or $78.5/MT to $ 6471.5/MT. Aluminium prices rose 0.4% or $6.5/MT to $ 1690.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.9117, with the AUD trading 0.15% lower from yesterday’s close.
The pair is expected to find support at 0.9073, and a fall through could take it to the next support level of 0.903. The pair is expected to find its first resistance at 0.9150, and a rise through could take it to the next resistance level of 0.9184.
With no major releases from Australia scheduled today, trading trends for this pair would be determined by global news. However, tomorrow’s RBA bulletin would shed light on the recent economic and financial developments in the nation.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
