AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.20% against the USD to close at 1.0712.
In the US, the initial jobless claims fell to 428,000 for the week ended 25 June 2011, compared to the previous week’s unrevised figure of 429,000. Additionally, the continuing claims fell to 3.702 million, compared to the preceding week’s revised level of 3.714 million.
In Australia, this morning, the AiG performance of manufacturing index rose to 52.9 in June from 47.7 in May. Additionally, the HIA new home sales declined to -0.2% (MoM) in May from 0.2% in the previous month.
In the Asian session at 3:00GMT, the pair is trading at 1.0702, 0.09% lower from yesterday’s close at 23:00 GMT.
LME Copper prices rose 1.4% or $125.0/MT to $9,300.5/ MT. Aluminium prices rose 0.7% or $17.3/MT to $2,508.5/ MT.
The pair is expected to find first short term resistance at 1.0744, with the next resistance levels at 1.0786 and 1.0863, subsequently. The first support for the pair is seen at 1.0667, followed by next supports at 1.0632 and 1.0555 respectively.
The currency pair is trading between its 20 Hr and its 50 Hr moving averages.
