AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 1.00% against the USD to close at 0.9829.
In Australia, yesterday, job vacancies rose 3.3% (M-o-M) in August, following a 4.5% decline in July.
This morning, in the economic news, the private sector credit rose 0.2% (M-o-M) in August following 0.3% rise in July. Meanwhile, Australia recorded a 2010-11 fiscal balance deficit of A$51.5 billion ($50.4 billion), A$5.8 billion higher-than-estimated earlier in the year.
In the Asian session at 3:00GMT, the Australian Dollar is trading at 0.9755, 0.75% lower from yesterday’s close at 23:00 GMT.
LME Copper prices declined 5.9% or $440.3/MT to $6,975.3/ MT. Aluminium prices declined 0.9% or $19.8/MT to $2,185.5/ MT.
The pair is expected to find first short term resistance at 0.9809, with the next resistance levels at 0.9863 and 0.9950, subsequently. The first support for the pair is seen at 0.9722, followed by next supports at 0.9689 and 0.9602 respectively.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
