AUDUSD Movement
On Friday, the AUD weakened 0.79% against the USD to close at 0.8112.
LME Copper prices declined 0.79% or $50.0/MT to $6309.0/MT. Aluminium prices declined 0.55% or $10.0/MT to $1821.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8058, with the AUD trading 0.67% lower from Friday’s close.
Over the weekend, Australia’s AiG performance of manufacturing index dropped to a level of 46.9 in December, following a reading of 50.1 recorded in the previous month.
The pair is expected to find support at 0.8024, and a fall through could take it to the next support level of 0.7991. The pair is expected to find its first resistance at 0.8120, and a rise through could take it to the next resistance level of 0.8182.
Going forward, investors look ahead to Australia’s trade balance data scheduled in the early hours tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
