AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.40% against the USD to close at 1.0391.
In the Asian session, at GMT0300, the pair is trading at 1.0478, with the AUD trading 0.84% higher from yesterday’s close, after European leaders announced an agreement on write-downs for private holders of Greek government bonds.
The European leaders said early this morning, that private-sector holders of Greek government debt would take a 50% write-down on the value of their holdings.
LME Copper prices rose 1.7% or $130.0/MT to $7,720.3/ MT. Aluminium prices traded flat at $2,195.3/ MT.
The pair is expected to find support at 1.0371, and a fall through could take it to the next support level of 1.0263. The pair is expected to find its first resistance at 1.0537, and a rise through could take it to the next resistance level of 1.0595.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
