AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.44% against the USD to close at 1.0245.
In Australia, yesterday, the Reserve Bank of Australia (RBA) reported that the total official reserve assets rose to A$46.08 billion from A$44.83 billion in November.
In the Asian session, at GMT0400, the pair is trading at 1.0298, with the AUD trading 0.52% higher from yesterday’s close.
This morning, building permits increased 8.4% (MoM) in November, compared to -10.0% decline in the previous month.
LME Copper prices declined 0.2% or $11.8/MT to $7,502.8/ MT. Aluminium prices rose 2.1% or $41.8/MT to $2,061.3/ MT.
The pair is expected to find support at 1.0202, and a fall through could take it to the next support level of 1.0106. The pair is expected to find its first resistance at 1.0349, and a rise through could take it to the next resistance level of 1.0400.
Trading trends in the pair today are expected to be determined by release of Westpac Consumer Confidence Index in Australia.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
