AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.24% against the USD to close at 1.0629, after Australian Prime Minister, Julia Gillard called a leadership ballot following the resignation of Foreign Minister Kevin Rudd.
In the Asian session, at GMT0400, the pair is trading at 1.0638, with the AUD trading 0.09% higher from yesterday’s close.
LME Copper prices rose 0.8% or $66.3/MT to $8390.8/ MT. Aluminium prices rose 1.7% or $36.3/MT to $2211.5/ MT.
The pair is expected to find support at 1.0596, and a fall through could take it to the next support level of 1.0553. The pair is expected to find its first resistance at 1.0684, and a rise through could take it to the next resistance level of 1.0729.
The currency pair converging with its 20 Hr and trading below its 50 Hr moving averages.
