AUDUSD Movement
On Friday, the AUD weakened 0.65% against the USD to close at 0.8327, amid a broad strengthening in the greenback.
LME Copper prices rose 0.69% or $45.0/MT to $6536.0/MT. Aluminium prices rose 1.37% or $27.0/MT to $2002.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8287, with the AUD trading 0.48% lower from Friday’s close.
Early morning data indicated that in China’s trade balance surplus unexpectedly widened to $54.5 billion in November, higher than market expectations for a trade surplus of $43.5 billion and compared to a trade balance surplus of $45.41 billion registered in October.
Meanwhile, in Australia, ANZ job advertisements rose 0.7% on a monthly basis in November, after advancing 0.2% in October.
The pair is expected to find support at 0.8252, and a fall through could take it to the next support level of 0.8216. The pair is expected to find its first resistance at 0.8356, and a rise through could take it to the next resistance level of 0.8425.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
