AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.66% against the USD, on Friday, to close at 1.0365, amid reports that indicated that China’s Gross Domestic Product (GDP) rose less-than-expected in the first quarter of 2012.
The GDP in China rose 8.1% (YoY) in the first quarter, the slowest pace in nearly three years, compared to 8.9% rise in the fourth quarter of 2011. Market had expected 8.3% growth in first quarter of 2012.
In the Asian session, at GMT0300, the pair is trading at 1.0325, with the AUD trading 0.39% lower from Friday’s close.
LME Copper prices declined 0.2% or $17.3/MT to $8,165.3/ MT. Aluminium prices declined 1.1% or $23.8/MT to $2,045.8/ MT.
The pair is expected to find support at 1.0283, and a fall through could take it to the next support level of 1.0242. The pair is expected to find its first resistance at 1.0396, and a rise through could take it to the next resistance level of 1.0468.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
