AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.44% against the USD and closed at 0.7777.
LME Copper prices rose 1.7% or $114.5/MT to $7073.5/MT. Aluminium prices rose 0.5% or $10.5/MT to $2144.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7729, with the AUD trading 0.62% lower from yesterday’s close, after the release of weaker-than-expected inflation data damped the possibility for a near-term interest rate hike.
Data revealed that Australia’s consumer price index (CPI) advanced 0.6% on a quarterly basis in 3Q 2017, undershooting market expectations for a gain of 0.8%. In the previous quarter, the CPI had advanced 0.2%.
The pair is expected to find support at 0.7692, and a fall through could take it to the next support level of 0.7656. The pair is expected to find its first resistance at 0.7795, and a rise through could take it to the next resistance level of 0.7862.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
