AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.81% against the USD to close at 0.8154.
LME Copper prices declined 0.33% or $20.0/MT to $6131.0/MT. Aluminium prices declined 1.06% or $19.0/MT to $1779.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8185, with the AUD trading 0.38% higher from yesterday’s close.
Early morning data indicated that in China, Australia’s biggest trading partner, trade surplus narrowed to $49.61 billion in December from previous month’s level of $54.48 billion. Markets were anticipating the nation to post a trade surplus of $49.0 billion. Additionally, China’s exports jumped more than market expectations on an annual basis in December, while imports eased less than anticipated in the same period.
The pair is expected to find support at 0.8123, and a fall through could take it to the next support level of 0.8061. The pair is expected to find its first resistance at 0.8252, and a rise through could take it to the next resistance level of 0.8319.
Amid no economic releases in Australia today, investor sentiment would be governed by global macroeconomic news.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
