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AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened marginally against the USD to close at 1.0365, as traders backed away from riskier assets amid persistent concerns over the US fiscal cliff.
LME Copper prices declined 0.7% or $57.0/MT to $7768.3/MT. Aluminium prices rose 0.2% or $3.5/MT to $2035.3/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0357, with the AUD trading marginally lower from yesterday?s close.
The pair is expected to find support at 1.0339, and a fall through could take it to the next support level of 1.0322. The pair is expected to find its first resistance at 1.0381, and a rise through could take it to the next resistance level of 1.0404.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
This entry was posted in AUD/USD. Bookmark the permalink.Source: http://forexnews.gcitrading.com/currencies/audusd/audusd-aussie-trading-lower-on-us-cliff-fears.htm
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