AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 1.12% against the USD to close at 1.0076.
LME Copper prices declined 0.2% or $15.0/MT to $7311.0/MT. Aluminium prices declined 1.2% or $22.0/MT to $1864.5/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0087, with the AUD trading 0.11% higher from yesterday’s close.
The Reserve Bank of Australia (RBA), in its monetary policy statement lowered its 2013 inflation forecast to 2%, compared to 3% forecasted earlier. The central bank also predicted that, the nation would grow about 2.5% in 2013.
The pair is expected to find support at 1.0003, and a fall through could take it to the next support level of 0.9918. The pair is expected to find its first resistance at 1.0214, and a rise through could take it to the next resistance level of 1.0340.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
