AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 3.67% against the USD and closed at 0.6688.
LME Copper prices declined 1.3% or $74.0/MT to $5,728.0/MT. Aluminium prices rose 0.2% or $2.5/MT to $1,681.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.6697, with the AUD trading 0.13% higher against the USD from yesterday’s close.
Overnight data indicated that, in Australia, the Westpac leading index advanced 0.05% on a monthly basis in January, compared to a revised rise of 0.01% in the earlier month.
The pair is expected to find support at 0.6680, and a fall through could take it to the next support level of 0.6664. The pair is expected to find its first resistance at 0.6707, and a rise through could take it to the next resistance level of 0.6718.
Moving ahead, traders would keep a close watch on Australia’s unemployment rate for January, slated to release overnight.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
