AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.84% against the USD to close at 0.8844.
LME Copper prices declined 0.8% or $56.0/MT to $ 7230.0/MT. Aluminium prices rose 0.2% or $4.0/MT to $ 1749.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8833, with the AUD trading 0.12% lower from yesterday’s close.
This morning, the Reserve Bank of Australia (RBA) reported that RBA foreign exchange transaction dropped to a level of AUD444.0 million in November, from a level of AUD648.0 million in the previous month.
The pair is expected to find support at 0.8787, and a fall through could take it to the next support level of 0.8742. The pair is expected to find its first resistance at 0.8912, and a rise through could take it to the next resistance level of 0.8992.
With no more economic releases scheduled today, investors would focus on global trends.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
