AUD/USD: Australian Dollar Drifting Lower In The Asian Session

AUD/USD: Australian Dollar Drifting Lower In The Asian Session

For the 24 hours to 23:00 GMT on Friday, the AUD strengthened 0.21% against the USD to close at 1.0374, as risk sentiment received a boost, after gross domestic product in the US rose by 2.0% in the Q3 FY2012, compared to a 1.3% rise in the Q2 FY2012.

LME Copper prices declined 1.1% or $86.8/MT to $7765.0/MT. Aluminium prices declined 0.5% or $9.8/MT to $1899.5/MT.

In the Asian session, at GMT0400, the pair is trading at 1.0356, with the AUD trading 0.17% lower from Friday’s close.

The pair is expected to find support at 1.0312, and a fall through could take it to the next support level of 1.0269. The pair is expected to find its first resistance at 1.0393, and a rise through could take it to the next resistance level of 1.0429.