AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.25% against the USD to close at 1.0448,
LME Copper prices declined 0.8% or $61.0/MT to $7570.0/MT. Aluminium prices declined 1.2% or $23.0/MT to $1867.5/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0426, with the AUD trading 0.21% lower from yesterday’s close.
Data released this morning indicated that the annual consumer price inflation in Australia eased to 2.1% in March, compared to a 2.4% rate recorded in the previous month. Separately, private sector credit climbed 0.2% (MoM) in February, compared to a similar rise reported in January.
Moreover, in China profits earned by industrial companies jumped 17.2% annually in the first two months of 2013, compared to a 5.2% decline posted in the same period last year.
The pair is expected to find support at 1.0400, and a fall through could take it to the next support level of 1.0374. The pair is expected to find its first resistance at 1.0466, and a rise through could take it to the next resistance level of 1.0506.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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