AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened marginally against the USD to close at 1.0207.
In the US, for the week ended 10 September 2011, initial jobless claims rose unexpectedly to 428,000, compared to the previous week’s revised figure of 417,000. Additionally, for the week ended 03 September 2011, continuing claims rose by 12,000 to 3.726 million.
In the Asian session at 3:00GMT, the Australian Dollar is trading at 1.0324, 1.15% higher from yesterday’s close at 23:00 GMT.
LME Copper prices declined 0.1% or $10.0/MT to $8,709.3/ MT. Aluminium prices rose 0.4% or $9.3/MT to $2,338.5/ MT.
The pair is expected to find first short term resistance at 1.0386, with the next resistance levels at 1.0447 and 1.0613, subsequently. The first support for the pair is seen at 1.0220, followed by next supports at 1.0115 and 0.9949 respectively.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
