AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.76% against the USD to close at 1.0365.
LME Copper prices rose 0.4% or $28.5/MT to $7634.8/MT. Aluminium prices rose 1.1% or $21.8/MT to $1965.5/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0369, with the AUD trading marginally higher from yesterday’s close.
Data released today morning indicated that, the consumer inflation expectation in Australia fell to a rate of 2.2% in November, compared to a rate of 2.6% in the previous month.
The pair is expected to find support at 1.0325, and a fall through could take it to the next support level of 1.0281. The pair is expected to find its first resistance at 1.0436, and a rise through could take it to the next resistance level of 1.0503.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
