AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 1.18% against the USD to close at 0.9977.
Australia’s Wage Price Index decreased to 1.0% (Q-o-Q) in the December 2010 quarter. The decrease was 0.1%, following the Q3 reading of 1.1%.
In the Asian session at 4:00GMT, the pair is trading at 0.9989, 0.12% higher from the New York session close.
LME Copper prices declined 1.8% or $175.3/MT to $9,654.0/ MT. Aluminium prices declined 2.2% or $54.5/ MT to $2,477.0/ MT.
The pair is expected to find first short term resistance at 1.0068, with the next resistance levels at 1.0148 and 1.0278, subsequently. The first support for the pair is seen at 0.9938, followed by next supports at 0.9888 and 0.9758 respectively.
The pair is expected to trade on the cues from the release of data on conference board Australia leading index in Australia.
The currency pair is trading just below its 20 Hr moving average and well below its 50 Hr moving average.
