AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 1.15% against the USD to close at 1.0484.
In the Asian session, at GMT0400, the pair is trading at 1.0491, with the AUD trading 0.06% higher from yesterday’s close.
On the economic front, the Westpac Leading Index in Australia, rose 0.6% (MoM) in January, as against a rise of 0.7% in December.
LME Copper prices declined 1.6% or $138.0/MT to $8436.5/ MT. Aluminium prices declined 0.8% or $18.5/MT to $2200.3/ MT.
The pair is expected to find support at 1.0438, and a fall through could take it to the next support level of 1.0384. The pair is expected to find its first resistance at 1.0563, and a rise through could take it to the next resistance level of 1.0636.
The currency pair is trading just below its 20 Hr and well below its 50 Hr moving average.
