AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.09% against the USD to close at 1.0132.
Australia’s bank business confidence rose 7 points in January 2011, reaching 4 points after a sharp fall in December. Additionally, Australian retail sales, excluding inflation, came in at 0.2% (M-o-M) in December, compared to previous reading of 0.3%.
In the Asian session at 4:00GMT, the pair is trading at 1.0141, 0.09% higher from the New York session close.
The pair is trading in line with its 50 Hr moving average and just below its 20 Hr moving average.
LME Copper prices rose 1.6% or $159.0/MT to $10,144.8/ MT. Aluminium prices rose 0.6% or $15.8/ MT to $2,539.0/ MT.
The pair is expected to find first short term resistance at 1.0168, with the next resistance levels at 1.0195 and 1.0253, subsequently. The first support for the pair is seen at 1.0110, followed by next supports at 1.0079 and 1.0021 respectively.
