AUD/USD - GCI Forex News - GCI Financial

GCI Forex News - AUD/USD: Aussie rises in risk-on trade, as EU-IMF strike funding deal for Greece

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AUDUSD Movement

For the 24 hours to 23:00 GMT, AUD strengthened 0.13% against the USD to close at 1.0471.

LME Copper prices rose 1.2% or $94.5/MT to $7770.3/MT. Aluminium prices rose 2.5% or $47.5/MT to $1976.3/MT.

In the Asian session, at GMT0400, the pair is trading at 1.0485, with the AUD trading 0.13% higher from yesterday?s close, extending its previous session gains, as risk appetite improved following news that the IMF and the EU have agreed on debt-reduction targets for Greece, which would open the flow of aid into the country.

The pair is expected to find support at 1.0453, and a fall through could take it to the next support level of 1.0421. The pair is expected to find its first resistance at 1.0504, and a rise through could take it to the next resistance level of 1.0522.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

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Source: http://forexnews.gcitrading.com/currencies/audusd/audusd-aussie-rises-in-risk-on-trade-as-eu-imf-strike-funding-deal-for-greece.htm

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