AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.44% against the USD to close at 1.0021.
The Conference Board Leading Economic Index for Australia rose by 0.7% in December 2010 from a revised increase of 0.2% in November. Additionally, Australian capital expenditure rose 3.5% (Q-o-Q) in the December quarter 2010 following an increase of 6.9% the previous quarter.
LME Copper prices declined 1.7% or $163.3/MT to $9,490.8/ MT. Aluminium prices declined 0.5% or $12.3/ MT to $2,489.3/ MT.
In the Asian session at 4:00GMT, the pair is trading at 1.0025, 0.04% higher from the New York session close.
The pair is expected to find first short term resistance at 1.0056, with the next resistance levels at 1.0087 and 1.0157, subsequently. The first support for the pair is seen at 0.9986, followed by next supports at 0.9947 and 0.9877 respectively.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
