AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD 1.0627 strengthened 0.33% against the USD to close at 1.0627.
In the Asian session, at GMT0400, the pair is trading at 1.0616, with the AUD trading 0.11% lower from yesterday’s close, after the Australian Bureau of Statistics reported that its House Price Index declined 1.00% in the fourth quarter of 2011.
However, gains are limited as manufacturing Purchasing Managers Index in China climbed to 50.5 in January, from 50.3 in December.
LME Copper prices rose 1.0% or $85.8/MT to $8484.3/ MT. Aluminium prices rose 2.1% or $47.0/MT to $2257.3/ MT.
The pair is expected to find support at 1.0575, and a fall through could take it to the next support level of 1.0533. The pair is expected to find its first resistance at 1.0671, and a rise through could take it to the next resistance level of 1.0726.
The currency pair is trading between its 20 Hr and its 50 Hr moving averages.
