AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.74% against the USD to close at 1.0337, following a rise in the National Australia Bank’s business confidence and conditions index for January.
LME Copper prices declined 0.2% or $16.8/MT to $8199.3/MT. Aluminium prices rose 0.1% or $2.3/MT to $2078.3/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0359, with the AUD trading 0.21% higher from yesterday’s close, after Australia’s Westpac Bank and the Melbourne Institute’s consumer confidence index rose to a reading of 108.3 in February, compared to a reading of 100.6 recorded in the previous month.
The pair is expected to find support at 1.0269, and a fall through could take it to the next support level of 1.0179. The pair is expected to find its first resistance at 1.0407, and a rise through could take it to the next resistance level of 1.0455.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
