AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.26% against the USD to close at 1.0556, after the US central bank indicated it would not expand it’s economic stimulus plan.
This morning, the Conference Board’s Leading Economic Index for Australia showed a modest increase of 0.1% in April.
In the Asian session at 3:00GMT, the pair is trading at 1.0544, 0.11% lower from yesterday’s close at 23:00 GMT.
LME Copper prices declined 0.6% or $52.8/MT to $9,006.8/ MT. Aluminium prices declined 0.5% or $12.0/MT to $2,507.5/ MT.
The pair is expected to find first short term resistance at 1.0619, with the next resistance levels at 1.0694 and 1.0812, subsequently. The first support for the pair is seen at 1.0501, followed by next supports at 1.0458 and 1.0340 respectively.
The currency pair is trading below its 20 Hr and its 50 Hr moving averages.
