AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.12% against the USD to close at 0.7185.
LME Copper prices rose 0.88% or $41.0/MT to $4691.0/MT. Aluminium prices rose 0.13% or $2.0/MT to $1510.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7224, with the AUD trading 0.54% higher from yesterday’s close.
Early this morning, in China, Australia’s largest trading partner, data showed that the CB leading economic index advanced 0.6% in November, following a revised rise of 0.3% in the previous month.
The pair is expected to find support at 0.7177, and a fall through could take it to the next support level of 0.7131. The pair is expected to find its first resistance at 0.7249, and a rise through could take it to the next resistance level of 0.7274.
Moving ahead, investors will look forward to Australia’s CB leading index for October, scheduled to be released tomorrow.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
