AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.62% against the USD to close at 0.9147.
In Australia, the Westpac consumer confidence declined 4.8% (MoM) in December, compared to a 1.9% (MoM) rise registered in the preceding month.
LME Copper prices rose 0.3% or $24.5/MT to $7165.5/MT. Aluminium prices advanced 0.8% or $13.5/MT to $1762.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.9139, with the AUD trading 0.09% lower from yesterday’s close.
The pair is expected to find support at 0.9089, and a fall through could take it to the next support level of 0.9039. The pair is expected to find its first resistance at 0.9179, and a rise through could take it to the next resistance level of 0.9219.
Traders are expected to keep a close watch on global economic news for cues in the pair, amid lack of economic releases in Australia.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
