AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD traded slightly higher against the USD to close at 1.0486.
LME Copper prices rose 1.8% or $146.0/MT to $8111.3/MT. Aluminium prices rose 1.1% or $23.5/MT to $2101.3/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0482, with the AUD trading marginally lower from yesterday’s close.
Data released this morning showed that the National Australia Bank’s business confidence index in Australia declined to a reading of -9.0 in November, the lowest reading since April 2009.
The pair is expected to find support at 1.0460, and a fall through could take it to the next support level of 1.0439. The pair is expected to find its first resistance at 1.0504, and a rise through could take it to the next resistance level of 1.0527.
In Australia, Westpac consumer confidence data due later today is likely to generate market interest.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
