AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.49% against the USD to close at 1.0294.
Yesterday, the Chinese Premier, Wen Jiabao, warned that the Euro-zone crisis is worsening, but added that China would continue to buy Euro-zone government bonds after fully assessing risks.
LME Copper prices declined 1.1% or $86.5/MT to $7610.8/MT. Aluminium prices declined 0.3% or $5.0/MT to $1867.5/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0292, with the AUD trading margially lower from yesterday’s close.
In Australia, private sector credit rose to a seasonally adjusted 0.2% in July, from 0.3% in the June.
The pair is expected to find support at 1.0265, and a fall through could take it to the next support level of 1.0237. The pair is expected to find its first resistance at 1.0332, and a rise through could take it to the next resistance level of 1.0371.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
