AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 1.46% against the USD to close at 1.0691.
In the US, for the week ended 24 June 2011, the mortgage application volume, on a seasonally adjusted basis, declined by 2.7% from one week earlier. Additionally, the refinancing demand for the week dropped 2.6% from the week before.
In Australia, this morning, the total private credit rose by 0.3% (M-o-M) in May after no increase was recorded in April.
In the Asian session at 3:00GMT, the pair is trading at 1.0736, 0.42% higher from yesterday’s close at 23:00 GMT.
LME Copper prices rose 2.0% or $180.3/MT to $9,175.5/ MT. Aluminium prices rose 0.5% or $11.5/MT to $2,491.3/ MT.
The pair is expected to find first short term resistance at 1.0813, with the next resistance levels at 1.0891 and 1.1112, subsequently. The first support for the pair is seen at 1.0592, followed by next supports at 1.0449 and 1.0228 respectively.
The currency pair is trading just above its 20 Hr moving average and its 50 Hr moving average.
