AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD rose 0.32% against the USD to close at 0.9287.
LME Copper prices declined 0.3% or $19.0/MT to $6961.0/MT. Aluminium prices rose 0.4% or $7.0/MT to $1801.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9262, with the AUD trading 0.27% lower from yesterday’s close, after economic data released this morning showed that preliminary manufacturing PMI in China, Australia’s biggest trading partner weakened further in July. Additionally, consumer prices in Australia rose less than expected in the second quarter of 2013.
The pair is expected to find support at 0.9215, and a fall through could take it to the next support level of 0.9169. The pair is expected to find its first resistance at 0.9314, and a rise through could take it to the next resistance level of 0.9367.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
