AUDUSD Movement
For the 24 hours to 23:00 GMT on Friday, the AUD strengthened 0.06% against the USD to close at 1.0443.
LME Copper prices rose 1.0% or $80.8/MT to $8281.8/MT. Aluminium prices declined 0.1% or $2.3/MT to $ 2093.3/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0416, with the AUD trading 0.26% lower from Friday’s close, on speculation that disagreement among the Euro region’s leaders on debt-crisis solutions would curb growth prospects, damping demand for higher-yielding assets.
The pair is expected to find support at 1.0371, and a fall through could take it to the next support level of 1.0326. The pair is expected to find its first resistance at 1.0490, and a rise through could take it to the next resistance level of 1.0564.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
