AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.14% against the USD to close at 1.0531.
LME Copper prices declined 1.2% or $101.3/MT to $8000.3/MT. Aluminium prices declined 0.6% or $13.3/MT to $2121.3/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0540, with the AUD trading 0.08% higher from yesterday’s close, after a HSBC report showed that Chinese manufacturing improved, boosting trade prospects.
The HSBC flash manufacturing purchasing managers’ index in China advanced to a 14-month high reading of 50.9 in December, compared to a reading of 50.5 posted in November.
The pair is expected to find support at 1.0511, and a fall through could take it to the next support level of 1.0482. The pair is expected to find its first resistance at 1.0566, and a rise through could take it to the next resistance level of 1.0592.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
