AUDUSD Movement
For the 24 hours to 23:00 GMT on Friday, the AUD strengthened 0.36% against the USD to close at 1.0315.
LME Copper prices rose marginally or $3.0/MT to $8214.8/MT. Aluminium prices rose marginally or $0.5/MT to $2066.3/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0302, with the AUD trading 0.13% lower from Friday’s close.
In economic news, total number of new home loans in Australia declined 1.5% (MoM) on a seasonally adjusted basis in December, following the upwardly revised decline of 0.7% in November. Meanwhile, investment lending dropped 2.4% (MoM) to A$7.339 billion in December, following the upwardly revised 3.2% contraction in the previous month.
The pair is expected to find support at 1.0273, and a fall through could take it to the next support level of 1.0243. The pair is expected to find its first resistance at 1.0341, and a rise through could take it to the next resistance level of 1.0379.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
