AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.40% against the USD to close at 1.0474.
LME Copper prices rose 0.2% or $15.5/MT to $7990.8/MT. Aluminium prices rose 0.2% or $4.0/MT to $2100.3/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0477, with the AUD trading marginally higher from yesterday’s close, as data released this morning indicated that on a seasonally adjusted basis the Australian GDP rose 0.5% in the Q3 FY2012, slightly below the expectations for a growth of 0.6%. Meanwhile, the Australian Industry Group’s performance of services index climbed to a reading of 47.1 in November, compared to a reading of 42.8 reported in October.
This morning in China, the HSBC business activity index declined to 52.1 in November, from 53.5 in October.
The pair is expected to find support at 1.0446, and a fall through could take it to the next support level of 1.0415. The pair is expected to find its first resistance at 1.0496, and a rise through could take it to the next resistance level of 1.0516.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
