AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.53% against the USD to close at 0.7267.
LME Copper prices declined 1.04% or $48.0/MT to $4572.0/MT. Aluminium prices declined 1.00% or $15.0/MT to $1479.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7249, with the AUD trading 0.25% lower from yesterday’s close.
The pair is expected to find support at 0.7222, and a fall through could take it to the next support level of 0.7195. The pair is expected to find its first resistance at 0.7295, and a rise through could take it to the next resistance level of 0.7342.
With no economic releases in Australia today, market participants will look forward to the nation’s Westpac leading and house price indices data along with the RBA’s December meeting minutes, scheduled to be released next week.
The currency pair is trading below its 20 Hr moving average and is showing convergence with its 50 Hr moving average.
