AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.51% against the USD to close at 0.9269, as the RBA Governor, Glenn Steven’s optimistic comments on the economy, made earlier during the week, continued to support the demand for the Aussie.
LME Copper prices rose 0.4% or $26.0/MT to $6581.0/MT. Aluminium prices declined 1.3% or $23.0/MT to $1682.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.9277, with the AUD trading 0.09% higher from yesterday’s close, after China’s Premier Li Keqiang indicated his confidence on China’s economy and revealed that growth would be in a “reasonable range”.
The pair is expected to find support at 0.9233, and a fall through could take it to the next support level of 0.9189. The pair is expected to find its first resistance at 0.9309, and a rise through could take it to the next resistance level of 0.9341.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
