AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.40% against the USD to close at 1.0464, after the National Australia Bank’s monthly business survey showed an unexpected rise in business confidence in December.
LME Copper prices marginally lower or $4.0/MT to $8010.25/MT. Aluminium prices declined 0.4% or $8.8/MT to $1997.5/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0475, with the AUD trading 0.11% higher from yesterday’s close.
The pair is expected to find support at 1.0446, and a fall through could take it to the next support level of 1.0418. The pair is expected to find its first resistance at 1.0491, and a rise through could take it to the next resistance level of 1.0508.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
