AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.11% against the USD to close at 1.0461, as market sentiment for riskier currencies improved after Cyprus secured an international bailout preventing the country’s exit from the Euro-zone.
LME Copper prices declined 0.2% or $16.0/MT to $7602.0/MT. Aluminium prices declined 0.4% or $7.5/MT to $1898.5/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0463, with the AUD trading marginally higher from yesterday’s close.
Investors keenly await Australia’s central bank Governor Glenn Stevens speech, due later today.
The pair is expected to find support at 1.0442, and a fall through could take it to the next support level of 1.0422. The pair is expected to find its first resistance at 1.0482, and a rise through could take it to the next resistance level of 1.0502.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
