AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.52% against the USD to close at 1.0361.
LME Copper prices declined 1.0% or $75.0/MT to $7595.5/ MT. Aluminium prices declined 1.1% or $20.0/MT to $1868.3/ MT.
In the Asian session, at GMT0300, the pair is trading at 1.0391, with the AUD trading 0.29% higher from yesterday’s close.
This morning, in Australia, NAB business confidence fell to a reading of -2 in the second quarter of 2012 compared to a reading of -1 in previous quarter.
The pair is expected to find support at 1.0322, and a fall through could take it to the next support level of 1.0254. The pair is expected to find its first resistance at 1.0426, and a rise through could take it to the next resistance level of 1.0462.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
