AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 1.11% against the USD to close at 0.9793.
In Australia, number of new dwelling unit commencements declined by 5.3% to 37,897 in 4Q2011 compared to 3Q2010. In the US, MBA mortgage applications decreased 0.7% on the week ended on March 11, 2011 from one week earlier. On a monthly basis, producer price index (PPI) in the US rose 1.6% in February, the fastest pace of growth since June 2009 and following a 0.8% rise posted in January.
In the Asian session at 4:00GMT, the pair is trading at 0.9807, 0.14% higher from the New York session close.
LME Copper prices rose 4.2% or $376.8/MT to $9,354.3/ MT. Aluminium prices declined 0.2% or $6.0/ MT to $2,467.5/ MT.
The pair is expected to find first short term resistance at 0.9947, with the next resistance levels at 1.0088 and 1.0352, subsequently. The first support for the pair is seen at 0.9683, followed by next supports at 0.9560 and 0.9296 respectively.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
