AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.51% against the USD to close at 1.0012, as lingering concerns about Europe’s sovereign debt crisis weighed on risk appetite.
In the Asian session, at GMT0400, the pair is trading at 1.0016, with the AUD trading 0.03% higher from yesterday’s close.
LME Copper prices declined 0.3% or $25.8/MT to $7,585.5/ MT. Aluminium prices declined 0.3% or $5.8/MT to $2,020.5/ MT.
The pair is expected to find support at 0.9943, and a fall through could take it to the next support level of 0.9871. The pair is expected to find its first resistance at 1.0125, and a rise through could take it to the next resistance level of 1.0235.
Trading trends in the pair today are expected to be determined by release of consumer inflation expectation data in Australia.
The currency pair is trading below its 20 Hr and its 50 Hr moving averages.
