AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD traded flat against the USD to close at 1.0237.
In Australia, this morning, the Export Price Index increased 4.0% in third quarter of 2011, compared to 6.0% rise in the previous quarter. Additionally, Import Price Index remained unchanged in the September quarter following a 0.8% rise in the previous quarter.
In the Asian session, at GMT0300, the pair is trading at 1.0224, with the AUD trading 0.13% lower from yesterday’s close.
LME Copper prices declined 5.3% or $388.8/MT to $6,916.5/ MT. Aluminium prices declined 2.3% or $49.8/MT to $2,121.5/ MT.
The pair is expected to find support at 1.0149, and a fall through could take it to the next support level of 1.0073. The pair is expected to find its first resistance at 1.0299, and a rise through could take it to the next resistance level of 1.0373.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
