AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 1.84% against the USD to close at 1.0334.
In the US, initial jobless claims, for the week ended 6 August 2011, declined unexpectedly to 395,000, compared to the prior week’s revised figure of 402,000. Moreover, continuing claims, for the week ended 30 July 2011, edged down to 3.688 million, following the previous week’s revised level of 3.748 million.
In the Asian session at 3:00GMT, the pair is trading at 1.0321, 0.13% lower from yesterday’s close at 23:00 GMT.
LME Copper prices declined 0.6% or $52.3/MT to $8801.0/ MT. Aluminium prices declined 1.7% or $41.3/MT to $2367.3/ MT.
The pair is expected to find first short term resistance at 1.0398, with the next resistance levels at 1.0476 and 1.0669, subsequently. The first support for the pair is seen at 1.0205, followed by next supports at 1.0090 and 0.9897 respectively.
The currency pair is trading way above its 20 Hr and its 50 Hr moving averages.
