AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.62% against the USD to close at 1.0265.
LME Copper prices declined 0.4% or $31.0/MT to $7720.0/MT. Aluminium prices rose 0.8% or $16.0/MT to $1943.0/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0278, with the AUD trading 0.13% higher from yesterday’s close, after data released this morning indicated that Australia’s economy grew in last quarter
The Australian Bureau of Statistics reported that nation’s gross domestic product expanded by a seasonally adjusted 0.6% in the Q42012, in line with market expectations and compared to an upwardly revised 0.7% growth reported in the previous quarter.
The pair is expected to find support at 1.0228, and a fall through could take it to the next support level of 1.0179. The pair is expected to find its first resistance at 1.0313, and a rise through could take it to the next resistance level of 1.0349.
In Australia, the AiG performance of construction index is scheduled for release today, late in the evening.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
