AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.50% against the USD to close at 1.0537, as investors risk appetite increased on the back of some encouraging economic reports.
In Australia, the Westpac Leading Index rose 0.4% (M-o-M) in February. Meanwhile, a data released by the Australian Bureau of Statistics showed that the import and export values in Australia increased in the first three months of 2011 compared to the last quarter of 2010.
LME Copper prices declined 0.8% or $78.0/MT to $9,278.5/ MT. Aluminium prices traded flat at $2,660.3/ MT.
In the Asian session at 3:00GMT, the pair is trading at 1.0593, 0.53% higher from the New York session close.
The pair is expected to find first short term resistance at 1.0649, with the next resistance levels at 1.0706 and 1.0868, subsequently. The first support for the pair is seen at 1.0487, followed by next supports at 1.0382 and 1.0220 respectively.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
