AUDUSD Movement
On Friday, the AUD weakened 1.16% against the USD to close at 0.9059.
LME Copper prices declined 1.0% or $72.5/MT to $6923.0/MT. Aluminium prices declined 0.6% or $10.0/MT to $1790.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9093, with the AUD trading 0.38% higher from Friday’s close.
This morning data released in China indicated that the annual retail sales rose 13.3% in June, while industrial production registered an 8.9% (YoY) rise in June. On an annual basis, the Gross Domestic Product in China expanded 7.5% in the second quarter 2013, in line with market expectations.
The pair is expected to find support at 0.8997, and a fall through could take it to the next support level of 0.8902. The pair is expected to find its first resistance at 0.9189, and a rise through could take it to the next resistance level of 0.9286.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
