AUDUSD Movement
For the 24 hours to 23:00 GMT on Friday, AUD weakened 0.42% against the USD to close at 1.0379.
In China, MNI Flash business sentiment index fell to a reading of 49.63 in July, compared to a reading of 53.21 in June.
LME Copper prices traded flat at $7764.8/ MT. Aluminium prices declined 0.8% or $14.5/MT to $1894.3/ MT.
In the Asian session, at GMT0300, the pair is trading at 1.0311, with the AUD trading 0.66% lower from Friday’s close.
This morning, in Australia, producer price index rose 0.5% (QoQ) in the second quarter of FY2012, surpassing the market expectation of a 0.3% rise.
The pair is expected to find support at 1.0269, and a fall through could take it to the next support level of 1.0226. The pair is expected to find its first resistance at 1.0390, and a rise through could take it to the next resistance level of 1.0468.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
