AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.04% against the USD to close at 1.0718.
In the Asian session, at GMT0400, the pair is trading at 1.0688, with the AUD trading 0.28% lower from yesterday’s close.
Data released this morning showed that the National Australia Bank business confidence rose to 4.0 in January, as compared to 3.0 in December, highest in last eight month.
LME Copper prices declined 0.9% or $79.0/MT to $8511.5/ MT. Aluminium prices declined 0.5% or $11.0/MT to $2207.3/ MT.
The pair is expected to find support at 1.0644, and a fall through could take it to the next support level of 1.0600. The pair is expected to find its first resistance at 1.0756, and a rise through could take it to the next resistance level of 1.0823.
Trading trends in the pair today are expected to be determined by the release of Westpac Consumer Confidence in Australia, later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
