AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.29% against the USD on Friday and close at 1.0699, amid concern that Greece would face difficulties in resolving its debt crisis, damping demand for higher-yielding assets.
In the Asian session, at GMT0400, the pair is trading at 1.0695, with the AUD trading marginally lower from Friday’s close.
This morning, Australian Prime Minister, Julia Gillard convincingly won a leadership vote against rival Kevin Rudd.
LME Copper prices rose 0.4% or $33.0/MT to $8440.5/ MT. Aluminium prices rose 1.1% or $24.0/MT to $2252.8/ MT.
The pair is expected to find support at 1.0653, and a fall through could take it to the next support level of 1.0611. The pair is expected to find its first resistance at 1.0743, and a rise through could take it to the next resistance level of 1.0791.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
