AUDUSD Movement
On Friday, the AUD strengthened 0.26% against the USD to close at 0.9260.
LME Copper prices declined 0.3% or $22.0/MT to $6905.5/MT. Aluminium prices declined 1.3% or $23.0/MT to $1761.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9271, with the AUD trading 0.12% higher from Friday’s close. Over the weekend, data indicated that industrial profits in China rose 11.1% for the period January to June 2013.
The pair is expected to find support at 0.9232, and a fall through could take it to the next support level of 0.9194. The pair is expected to find its first resistance at 0.9303, and a rise through could take it to the next resistance level of 0.9336.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
