AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.48% against the USD to close at 1.0354.
In the Asian session, at GMT0300, the pair is trading at 1.0364, with the AUD trading 0.10% higher from yesterday’s close.
In economic news, this morning, the National Australia Bank’s Business Confidence Index declined to -1.0 in first quarter of 2012, compared to 1.0 in the previous quarter.
LME Copper prices declined 0.2% or $17.8 /MT to $8,082.5 / MT. Aluminium prices declined 0.6% or $12.0 /MT to $2,028.3 / MT.
The pair is expected to find support at 1.0333, and a fall through could take it to the next support level of 1.0303. The pair is expected to find its first resistance at 1.0402, and a rise through could take it to the next resistance level of 1.0440.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
