AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.11% against the USD to close at 1.0241, as demand for riskier currencies rose after European Central Bank (ECB) President, Mario Draghi said that the announcement of Outright Monetary Transactions had helped alleviate market tensions in recent weeks.
LME Copper prices rose 0.6% or $48.8/MT to $8324.5/MT. Aluminium prices rose 0.9% or $18.0/MT to $2087.5/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0267, with the AUD trading 0.26% higher from yesterday’s close.
This morning, the AiG performance of construction index in Australia fell by 1.3 points to a reading of 30.9 in September, from 32.2 in the previous month.
The pair is expected to find support at 1.0224, and a fall through could take it to the next support level of 1.0180. The pair is expected to find its first resistance at 1.0292, and a rise through could take it to the next resistance level of 1.0317.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
