AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.64% against the USD to close at 0.7813.
LME Copper prices declined 0.81% or $46.5/MT to $5665.5/MT. Aluminium prices declined 0.77% or $14.0/MT to $1800.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7820, with the AUD trading 0.09% higher from yesterday’s close.
Overnight data showed that Australia’s Westpac leading index rose 0.1% MoM in January, compared to a revised flat reading registered in the prior month. Meanwhile, the nation’s CB leading indicator climbed 0.4% in December, following an advance of 0.1% recorded in November.
The pair is expected to find support at 0.7790, and a fall through could take it to the next support level of 0.776. The pair is expected to find its first resistance at 0.7840, and a rise through could take it to the next resistance level of 0.7861.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
