AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.64% against the USD to close at 1.0794.
The Australian Bureau of Statistics reported that the consumer price index rose by 1.6% in first quarter of 2011.
LME Copper prices declined 1.6% or $155.3/MT to $9,455.5/ MT. Aluminium prices declined 0.4% or $10.8/MT to $2,720.5/ MT.
In the Asian session at 3:00GMT, the pair is trading at 1.0830, 0.33% higher from the New York session close.
The pair is expected to find first short term resistance at 1.0898, with the next resistance levels at 1.0966 and 1.1147, subsequently. The first support for the pair is seen at 1.0717, followed by next supports at 1.0604 and 1.0423 respectively.
Trading trends in the currency pair are expected to be determined by release of consumer price index in Australia.
The currency pair is showing convergence with its 20 Hr moving average and its 50 Hr moving average.
