AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.12% against the USD to close at 1.0543.
In the Asian session at 3:00GMT, the pair is trading at 1.0530, 0.12% lower from yesterday’s close at 23:00 GMT. On Friday morning, a senior Fitch Ratings Agency official reported that Australian banks are the most exposed to Europe’s debt crisis because of their dependence on offshore funding.
LME Copper prices declined 0.3% or $28.3/MT to $8,978.5/ MT. Aluminium prices declined 1.2% or $30.5/MT to $2,477.0/ MT.
The pair is expected to find first short term resistance at 1.0576, with the next resistance levels at 1.0623 and 1.0730, subsequently. The first support for the pair is seen at 1.0469, followed by next supports at 1.0409 and 1.0302 respectively.
The currency pair is trading between its 20 Hr and its 50 Hr moving averages.
