AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.53% against the USD to close at 0.7292.
LME Copper prices rose 0.42% or $19.5/MT to $4685.0/MT. Aluminium prices declined 0.39% or $6.0/MT to $1535.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7284, with the AUD trading 0.11% lower from yesterday’s close.
The pair is expected to find support at 0.7261, and a fall through could take it to the next support level of 0.7239. The pair is expected to find its first resistance at 0.7305, and a rise through could take it to the next resistance level of 0.7327.
Going ahead, investors will look forward to Australia’s private sector credit data for November, scheduled to be released in the early hours tomorrow.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
