AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.31% against the USD and closed at 0.7133.
LME Copper prices rose 0.28% or $13.0/MT to $4590.0/MT. Aluminium prices rose 1.44% or $22.0/MT to $1552.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7163, with the AUD trading 0.43% higher from Friday’s close.
Earlier today, in China, Australia’s largest trading partner, data showed that the MNI business sentiment indicator fell to a level of 49.9 in January, compared to a reading of 52.3 in the preceding month.
The pair is expected to find support at 0.7097, and a fall through could take it to the next support level of 0.7031. The pair is expected to find its first resistance at 0.7201, and a rise through could take it to the next resistance level of 0.7239.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
