By GCI Financial
| Nov 25, 2012 09:32AM GMT |
For the 24 hours to 23:00 GMT on Friday, AUD weakened marginally against the USD to close at 1.0379.
LME Copper prices rose 0.1% or $11.3/MT to $7715.8/MT. Aluminium prices declined 0.6% or $12.5/MT to $1915.3/MT.
In the Asian session, at 04:00 GMT, the pair is trading at 1.0396, with the AUD trading 0.16% higher from Thursday’s close.
Data released this morning indicated that China’s MNI business sentiment index advanced to a reading of 53.6 in November, compared to a reading of 51.9 October.
The pair is expected to find support at 1.0366, and a fall through could take it to the next support level of 1.0337. The pair is expected to find its first resistance at 1.0411, and a rise through could take it to the next resistance level of 1.0427.
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