AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.43% against the USD to close at 1.0493.
In Australia, consumer inflation expectation decreased marginally to 3.5% in April 2011 following an increase of 3.6% in March. Additionally, on monthly basis, new motor vehicle sales rose to 3.4% in March from 0.2% rise in February.
In the US, Mortgage Bankers Association reported that for the week ended 8 April 2011, mortgage application volume, on a seasonally adjusted basis, declined 6.7% from one week earlier.
LME Copper prices declined 0.5% or $45.0/MT to $9,625.3/ MT. Aluminium prices traded flat at $2,634.3/ MT.
In the Asian session at 3:00GMT, the pair is trading at 1.0488, 0.05% lower from the New York session close.
The pair is expected to find first short term resistance at 1.0544, with the next resistance levels at 1.0599 and 1.0715, subsequently. The first support for the pair is seen at 1.0428, followed by next supports at 1.0367 and 1.0251 respectively.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
