AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.13% against the USD to close at 1.0625.
In the US, the initial jobless claims unexpectedly rose to 427,000 for the week ended 4 June 2011, compared to the previous week’s revised figure of 426,000. Additionally, the continuing claims fell to 3.676 million, compared to the preceding week’s revised level of 3.747 million.
In the Asian session at 3:00GMT, the pair is trading at 1.0628, 0.03% higher from yesterday’s close at 23:00 GMT.
LME Copper prices declined 0.2% or $20.0/MT to $8,950.3/ MT. Aluminium prices declined 0.7% or $19.8/MT to $2,625.3/ MT.
The pair is expected to find first short term resistance at 1.0668, with the next resistance levels at 1.0708 and 1.0802, subsequently. The first support for the pair is seen at 1.0574, followed by next supports at 1.0520 and 1.0426 respectively.
The currency pair is trading just below its 20 Hr and its 50 Hr moving averages.
