AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.23% against the USD to close at 1.0170, as Euro-zone debt crisis fears diminished demand for high-yielding assets.
In the Asian session, at GMT0400, the pair is trading at 1.0089, with the AUD trading 0.80% lower from yesterday’s close.
In Australia, this morning, the Westpac Leading Index declined 0.3% (M-o-M) in September, compared to 0.7% growth in the previous month. Additionally, the Wage Price Index rose 0.7% (Q-o-Q) in the three months ended September, compared to a 0.9% increase in the June quarter.
LME Copper prices declined 1.3% or $99.5/MT to $7,632.0/ MT. Aluminium prices declined 1.2% or $26.5/MT to $2,117.5/ MT.
The pair is expected to find support at 1.0039, and a fall through could take it to the next support level of 0.9990. The pair is expected to find its first resistance at 1.0172, and a rise through could take it to the next resistance level of 1.0256.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
