AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.57% against the USD to close at 0.8917.
LME Copper prices rose 0.6% or $40.5/MT to $7354.0/MT. Aluminium prices advanced 0.9% or $15.5/MT to $1733.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8930, with the AUD trading 0.15% higher from yesterday’s close. Early morning, in Australia, a report showed that the AiG performance of construction index declined to a reading of 50.8 in December, from a level of 55.2 registered in the preceding month.
The pair is expected to find support at 0.8901, and a fall through could take it to the next support level of 0.8871. The pair is expected to find its first resistance at 0.8951, and a rise through could take it to the next resistance level of 0.8971.
The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
