AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 1.39% against the USD to close at 1.0047, as risk aversion increased following lackluster economic data from the US.
In the US, Philadelphia Fed manufacturing survey index fell to a reading of -16.6 in June, a 10-month low. Moreover, initial jobless claims in the nation fell less-than-expected to 387000 in the week ended 16 June 2012, against the market expectation of a reading of 383000.
LME Copper prices declined 1.7% or $129.5/MT to $7425.8/ MT. Aluminium prices declined 2.0% or $37.5/MT to $1841.8/ MT.
In the Asian session, at GMT0300, the pair is trading at 1.0057, with the AUD trading 0.09% higher from yesterday’s close.
The pair is expected to find support at 0.9993, and a fall through could take it to the next support level of 0.9929. The pair is expected to find its first resistance at 1.0157, and a rise through could take it to the next resistance level of 1.0256.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
