AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.11% against the USD to close at 1.0342.
In the Asian session, at GMT0300, the pair is trading at 1.0327, with the AUD trading 0.15% lower from yesterday’s close.
In Australia, this morning, the import price index fell 1.2% (QoQ) in three months to March, compared to analysts’ forecast for a 0.1% percent decrease. Additionally, export price index declined 7.0% (QoQ) in first quarter of 2012, compared to analysts’ expectation of a 3.0% fall.
LME Copper prices declined 0.5% or $37.3/MT to $8,045.3/ MT. Aluminium prices declined 0.6% or $12.0/MT to $2,016.3/ MT.
The pair is expected to find support at 1.0294, and a fall through could take it to the next support level of 1.0261. 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 1.0424.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
