AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.23% against the USD to close at 1.0490.
In the US, for the week ended 13 August 2011, initial jobless claims rose to 408,000, compared to the previous week’s revised figure of 399,000. Additionally, for the week ended 6 August 2011, continuing claims rose to 3.702 million, compared to the preceding week’s level of 3.695 million.
In the Asian session at 3:00GMT, the pair is trading at 1.0373, 1.12% lower from yesterday’s close at 23:00 GMT.
LME Copper prices declined 0.8% or $67.0/MT to $8,802.8/ MT. Aluminium prices rose 1.0% or $24.0/MT to $2,371.0/ MT.
The pair is expected to find first short term resistance at 1.0497, with the next resistance levels at 1.0620 and 1.0836, subsequently. The first support for the pair is seen at 1.0281, followed by next supports at 1.0188 and 0.9972 respectively.
The currency pair is trading well below its 20 Hr and its 50 Hr moving averages.
