AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD traded 0.32% higher against the USD to close at 1.0970.
In the morning news, the Australian Bureau of Statistics reported that the average price for a home in Australia was down 1.7% in the first quarter of 2011, compared to the previous three months. Additionally, the TD Securities-Melbourne Institute measure of consumer prices rose 0.3% in April, after a 0.6% rise in March.
In the Asian session at 3:00GMT, the pair is trading at 1.0937, 0.30% higher from the New York session close.
The pair is expected to find first short term resistance at 1.1002, with the next resistance levels at 1.1067 and 1.1188, subsequently. The first support for the pair is seen at 1.0881, followed by next supports at 1.0825 and 1.0704 respectively.
The pair is expected to trade on the cues from the release of house price index and RBA commodity price index in Australia.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
