AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 1.17% against the USD, on Friday, to close at 1.0357.
In Australia, this morning, the Producer Price Index (PPI), on quarterly basis, rose 2.7% in the third quarter of 2011, following a 3.4% increase in the previous quarter.
In the Asian session, at GMT0300, the pair is trading at 1.0363, with the AUD trading marginally higher from Friday’s close.
LME Copper prices rose 2.1% or $145.5/MT to $7,062.0/ MT. Aluminium prices declined 0.5% or $11.5/MT to $2,110.0/ MT.
The pair is expected to find support at 1.0251, and a fall through could take it to the next support level of 1.0139. The pair is expected to find its first resistance at 1.0427, and a rise through could take it to the next resistance level of 1.0491.
Investors are eying the Reserve Bank of Australia (RBA) Deputy Governor Battellino speech along with other economic data in Australia to be released later today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
