AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened marginally against the USD to close at 1.0369.
LME Copper prices declined 0.7% or $57.0/MT to $7768.3/MT. Aluminium prices rose 0.2% or $3.5/MT to $2035.3/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0380, with the AUD trading 0.11% higher from yesterday’s close, as traders await news on talks between US lawmakers aimed at averting the so-called fiscal cliff.
This morning, in China, the MNI business sentiment indicator fell to a reading of 52.2 in December, compared to a reading of 53.8 posted last month.
The pair is expected to find support at 1.0354, and a fall through could take it to the next support level of 1.0329. The pair is expected to find its first resistance at 1.0397, and a rise through could take it to the next resistance level of 1.0415.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
