AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.19% against the USD, on Friday, to close at 1.0452.
In the Asian session at 3:00GMT, the pair is trading at 1.0377, 0.72% lower from Friday’s close at 23:00 GMT, as investors sold higher-yielding assets after Standard & Poor’s lowered the US government’s credit rating on Friday by a notch to AA+ from AAA with a negative outlook.
LME Copper prices declined 2.8% or $262.3/MT to $9,189.5/ MT. Aluminium prices declined 1.8% or $45.0/MT to $2,427.5/ MT.
The pair is expected to find first short term resistance at 1.0480, with the next resistance levels at 1.0583 and 1.0741, subsequently. The first support for the pair is seen at 1.0322, followed by next supports at 1.0267 and 1.0109 respectively.
The currency pair is trading below its 20 Hr and its 50 Hr moving averages.
