AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.24% against the USD to close at 1.0421, as optimism related to recent announcements of monetary easing by world central banks was overshadowed by ongoing uncertainty over whether Spain will seek external financial aid.
LME Copper prices declined 1.5% or $126.5/MT to $8155.3/MT. Aluminium prices declined 1.7% or $34.8/MT to $2058.5/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0442, with the AUD trading 0.2% higher from Yesterday’s close.
In China, the Conference Board leading economic index rose 1.7% (MoM) in August to 240.4, while the coincident economic index rose 0.5% (MoM) in August to 223.0
The pair is expected to find support at 1.0404, and a fall through could take it to the next support level of 1.0366. The pair is expected to find its first resistance at 1.0462, and a rise through could take it to the next resistance level of 1.0482.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
