AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.48% against the USD to close at 1.0123.
Yesterday, Australia monetary policy makers kept the interest rate unchanged at 4.75%.
In data this morning, new home sales rose by 2.5% in January, according to a survey compiled by HIA Jeld-Wen. On a sequential basis, GDP in Australia rose 0.7% in the fourth quarter of 2010 (4Q FY2010), following a downwardly revised 0.1% growth posted in the previous quarter.
In the Asian session at 4:00GMT, the pair is trading at 1.0112, 0.11% lower from the New York session close.
LME Copper prices rose 0.5% or $50.3/MT to $9,907.5/ MT. Aluminium prices rose 2.0% or $50.3/ MT to $2,581.5/ MT.
The pair is expected to find first short term resistance at 1.0170, with the next resistance levels at 1.0228 and 1.0319, subsequently. The first support for the pair is seen at 1.0079, followed by next supports at 1.0046 and 0.9955 respectively.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
