AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.56% against the USD and closed at 0.6904.
LME Copper prices declined 0.2% or $15.0/MT to $6232.0/MT. Aluminium prices rose 0.7% or $12.0/MT to $1778.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.6905, with the AUD trading a tad higher against the USD from yesterday’s close.
Elsewhere in China, Australia’s largest trading partner, China’s house price index advanced 6.6% in December, compared to 7.1% in the preceding month.
The pair is expected to find support at 0.6882, and a fall through could take it to the next support level of 0.6858. The pair is expected to find its first resistance at 0.6924, and a rise through could take it to the next resistance level of 0.6942.
In absence of key economic releases in Australia today, investor sentiment would be determined by global macroeconomic events.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
