AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.46% against the USD on Friday to close at 1.0283.
This morning, the Australian Bureau of Statistics indicated that, on a seasonally adjusted basis, the number of mortgages approved edged up 1.4% (MoM) in November to 46,953. Also, the TD-MI Monthly Inflation Gauge climbed 0.5% in December, compared to a 0.1 % fall in November.
In the Asian session, at GMT0400, the pair is trading at 1.0281, with the AUD trading 0.02% lower from Friday’s close.
LME Copper prices rose 0.2% or $19.5/MT to $7,965.3/ MT. Aluminium prices declined 2.2% or $47.5/MT to $2,109.8/ MT.
The pair is expected to find support at 1.0220, and a fall through could take it to the next support level of 1.0159. The pair is expected to find its first resistance at 1.0355, and a rise through could take it to the next resistance level of 1.0429.
The currency pair is trading below its 20 Hr and its 50 Hr moving averages.
