AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.34% against the USD, on Friday, to close at 1.0377.
In the Asian session, at GMT0300, the pair is trading at 1.0344, with the AUD trading 0.32% lower from Friday’s close, after reports showed that producer price index (PPI) in Australia fell 0.3% (QoQ) in the March quarter, compared to 0.3% increase in previous quarter. Market had expected 0.5% rise in PPI in first quarter of 2012.
LME Copper prices rose 0.9% or $75.0/MT to $8,120.3/ MT. Aluminium prices rose 0.9% or $18.0/MT to $2,034.3/ MT.
The pair is expected to find support at 1.0308, and a fall through could take it to the next support level of 1.0271. The pair is expected to find its first resistance at 1.0383, and a rise through could take it to the next resistance level of 1.0421.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
