AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.29% against the USD to close at 1.0473.
LME Copper prices declined 1.0% or $76.3/MT to $7719.5/MT. Aluminium prices declined 0.5% or $10.5/MT to $1992.3/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0466, with the AUD trading marginally lower from yesterday’s close.
Data released this morning indicated that new home sales in Australia rose 3.4% in October, compared to a 3.7% drop recorded in September. Separately, private capital expenditure in Australia rose a seasonally adjusted 2.8% in the Q3 FY2012, against the forecast for a 2.0% increase and following a 3.4% rise recorded in the Q2 FY2012.
The pair is expected to find support at 1.0435, and a fall through could take it to the next support level of 1.0404. The pair is expected to find its first resistance at 1.0489, and a rise through could take it to the next resistance level of 1.0513.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
