AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.68% against the USD to close at 1.0004, on lingering concerns over the debt problems in the Euro-zone economies.
In the Asian session, at GMT0400, the pair is trading at 1.0013, with the AUD trading 0.09% higher from yesterday’s close.
LME Copper prices declined 1.2% or $90.8/MT to $7,501.3/ MT. Aluminium prices declined 0.6% or $13.5/MT to $2,084.0/ MT.
The pair is expected to find support at 0.9951, and a fall through could take it to the next support level of 0.9890. The pair is expected to find its first resistance at 1.0096, and a rise through could take it to the next resistance level of 1.0180.
The currency pair is showing convergence with its 20 Hr and is trading below its 50 Hr moving average.
