AUD/USD: Australian Producer Prices Rise In The Q2 2013

For the 24 hours to 23:00 GMT, AUD weakened 0.16% against the USD to close at 0.8938.

LME Copper prices rose 2.9% or $194.0/MT to $6999.0/MT. Aluminium prices rose 2.6% or $44.5/MT to $1776.5/MT.

In the Asian session, at GMT0300, the pair is trading at 0.8918, with the AUD trading 0.22% lower from yesterday's close.

This morning, Australia's producer price index (PPI) climbed 1.2% (YoY) in the Q2 2013, from a 1.6% rise recorded in the previous quarter.

The pair is expected to find support at 0.8873, and a fall through could take it to the next support level of 0.8829. The pair is expected to find its first resistance at 0.8977, and a rise through could take it to the next resistance level of 0.9037.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

IMOH, Clement I.
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