AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.37% against the USD to close at 1.0666.
In the US, for the week ended 14 May 2011, initial jobless claims fell to 409,000, compared to the previous week’s revised figure of 438,000.
In the Asian session at 3:00GMT, the pair is trading at 1.0666, flat from the New York session close.
LME Copper prices rose 1.2% or $110.0/MT to $9,006.3/ MT. Aluminium prices rose 0.2% or $5.5/MT to $2,516.0/ MT.
The pair is expected to find first short term resistance at 1.0702, with the next resistance levels at 1.0739 and 1.0832, subsequently. The first support for the pair is seen at 1.0609, followed by next supports at 1.0553 and 1.0460 respectively.
The currency pair is trading well above its 20 Hr and 50 Hr moving averages.
