AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.49% against the USD, on Friday, to close at 1.0491, as concern that a Greek austerity plan won’t resolve Europe’s sovereign-debt crisis damped investors risk appetite.
In the US, the orders for manufactured durable goods rose by 1.9% (M-o-M) in May following a 2.7% decrease in April.
In the Asian session at 3:00GMT, the pair is trading at 1.0441, 0.48% lower from Friday’s close at 23:00 GMT.
LME Copper prices rose 0.7% or $66.3/MT to $9,044.8/ MT. Aluminium prices declined 0.5% or $11.8/MT to $2,465.3/ MT.
The pair is expected to find first short term resistance at 1.0555, with the next resistance levels at 1.0668 and 1.0849, subsequently. The first support for the pair is seen at 1.0374, followed by next supports at 1.0306 and 1.0125 respectively.
The currency pair is trading well below its 20 Hr moving average and its 50 Hr moving average.
