AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.60% against the USD and closed at 0.6901.
LME Copper prices rose 0.3% or $20.0/MT to $6177.0/MT. Aluminium prices declined 0.3% or $5.0/MT to $1766.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.6899, with the AUD trading a tad lower against the USD from yesterday’s close.
Elsewhere in China, Australia’s largest trading partner, trade surplus widened to less-than-expected to $46.8 billion in December, compared to a surplus of $37.9 billion in previous month.
The pair is expected to find support at 0.6883, and a fall through could take it to the next support level of 0.6866. The pair is expected to find its first resistance at 0.6918, and a rise through could take it to the next resistance level of 0.6936.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
