AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.22% against the USD to close at 1.0345.
The Federal Reserve, in its Beige Book Economic Survey, stated that the US economy grew moderately in July and early August, and hiring was more robust than in the previous six-week period.
LME Copper prices declined 1.1% or $81.5/MT to $7524.3/MT. Aluminium prices declined 0.5% or $10.0/MT to $1872.5/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0325, with the AUD trading 0.19% lower from yesterday’s close, after building approvals in Australia fell more-than-expected by 17.3% (MoM) in July. However, private capital expenditure rose 3.4% in the second quarter of 2012, against the market expectation of a 3.0% rise.
The pair is expected to find support at 1.0296, and a fall through could take it to the next support level of 1.0267. The pair is expected to find its first resistance at 1.0376, and a rise through could take it to the next resistance level of 1.0427.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
