AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 1.42% against the USD to close at 1.0063.
In the Asian session, at GMT0400, the pair is trading at 1.0091, with the AUD trading 0.28% higher from yesterday’s close.
In Australia, this morning, the Business Conditions Index rose to a reading of 1.0 in November, Business Confidence Index remained at a reading of 2.0, unchanged from October.
LME Copper prices declined 2.4% or $189.0/MT to $7,611.3/ MT. Aluminium prices declined 1.9% or $40.0/MT to $2,026.3/ MT.
The pair is expected to find support at 1.0018, and a fall through could take it to the next support level of 0.9945. The pair is expected to find its first resistance at 1.0177, and a rise through could take it to the next resistance level of 1.0262.
The pair is expected to trade on the cues from the release of Westpac Consumer Confidence Index in Australia.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
