AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.11% against the USD to close at 1.0422.
LME Copper prices declined 0.6% or $45.5/MT to $8014.25/MT. Aluminium prices declined 1.8% or $36.0/MT to $2006.3/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0447, with the AUD trading 0.24% higher from yesterday’s close.
This morning in Australia, the National Australia Bank (NAB) reported that its business confidence index rose to a reading of 3.0 in December, compared to a reading of -9.0 recorded in the previous month. Meanwhile, the Conference Board’s leading economic index dropped to a reading of 121.9 in November, compared to a reading of 122.1 recorded in October.
The pair is expected to find support at 1.0403, and a fall through could take it to the next support level of 1.0359. The pair is expected to find its first resistance at 1.0473, and a rise through could take it to the next resistance level of 1.0499.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
