AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.15% against the USD, on Friday, to close at 1.0850.
Australian dollar advanced as investors remained confident that the European debt crisis would be contained, boosting the demand for higher-yielding assets.
In the Australian economic news, this morning, the producer price index, on quarterly basis, rose by 0.8% in the second quarter of 2011 following a 1.2% rise in the previous month.
In the Asian session at 3:00GMT, the pair is trading at 1.0823, 0.25% lower from Friday’s close at 23:00 GMT.
LME Copper prices rose 0.9% or $91.3/MT to $9,697.8/ MT. Aluminium prices rose 3.0% or $74.3/MT to $2,547.8/ MT.
The pair is expected to find first short term resistance at 1.0862, with the next resistance levels at 1.0902 and 1.0967, subsequently. The first support for the pair is seen at 1.0797, followed by next supports at 1.0772 and 1.0707 respectively.
The currency pair is trading between its 20 Hr and its 50 Hr moving averages.
