AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.36% against the USD to close at 1.0437, as risk sentiment came under pressure following weak Chinese manufacturing data and amid sustained Euro-zone debt concerns.
LME Copper prices declined 1.5% or $121.8/MT to $8201.0/MT. Aluminium prices declined 1.3% or $28.0/MT to $ 2095.5/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0468, with the AUD trading 0.30% higher from yesterday’s close.
This morning, the Conference Board leading economic index in Australia remained unchanged at 124.9 in July, following two consecutive increases. Meanwhile, the coincident index rose 0.1% to 120.4 in July.
The pair is expected to find support at 1.0399, and a fall through could take it to the next support level of 1.0329. The pair is expected to find its first resistance at 1.0507, and a rise through could take it to the next resistance level of 1.0545.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
