AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.52% against the USD on Friday to close at 1.0473.
In the Asian session, at GMT0400, the pair is trading at 1.0486, with the AUD trading 0.12% higher from Friday’s close.
According to the Australian Bureau of Statistics, Australia’s fourth-quarter final producer price index climbed 0.3%, against the expectation of 0.4% rise in the October-December.
LME Copper prices declined 1.4% or $120.0/MT to $8230.3/ MT. Aluminium prices rose 0.1% or $2.8/MT to $2183.5/ MT.
The pair is expected to find support at 1.0415, and a fall through could take it to the next support level of 1.0344. The pair is expected to find its first resistance at 1.0525, and a rise through could take it to the next resistance level of 1.0565.
Trading trends in the pair today are expected to be determined by the release of the Conference Board Australia Leading Index in the day ahead.
The currency pair is trading above its 20 Hr and its 50 Hr moving averages.
