AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.85% against the USD, on Friday, to close at 1.0570, as commodity prices declined. The Australian dollar remained under pressure as Greece’s sovereign debt problems continued to worry investors.
In Australia, the sale of new motor vehicles declined by 3.5% in April from 3.4% rise in the previous month. Additionally, the home loans declined by 1.5% in March from a previous revised reading at -4.7% for the previous month.
In the Asian session at 3:00GMT, the pair is trading at 1.0553, 0.16% lower from the New York session close.
LME Copper prices rose 3.8% or $320.3/MT to $8,856.5/ MT. Aluminium prices rose 1.8% or $47.3/MT to $2,647.8/ MT.
The pair is expected to find first short term resistance at 1.0675, with the next resistance levels at 1.0797 and 1.0999, subsequently. The first support for the pair is seen at 1.0473, followed by next supports at 1.0393 and 1.0191 respectively.
The currency pair is trading just below its 20 Hr and its 50 Hr moving averages.
