AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 1.37% against the USD to close at 0.9752.
LME Copper prices rose 1.2% or $89.5/MT to $7330.5/MT. Aluminium prices rose 0.7% or $13.0/MT to $1888.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9712, with the AUD trading 0.41% lower from yesterday’s close.
This morning, in the much awaited Reserve Bank of Australia’s (RBA) interest rate decision, the central bank maintained its key interest rate at 2.75%.
Separately, the seasonally adjusted current account deficit in Australia narrowed to AUD$8.5 billion in the Q12013 from a revised deficit of AUD$14.8 billion recorded in the Q42012.
The pair is expected to find support at 0.9617, and a fall through could take it to the next support level of 0.9521. The pair is expected to find its first resistance at 0.9801, and a rise through could take it to the next resistance level of 0.9889.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
