AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 1.09% against the USD to close at 0.8131.
LME Copper prices declined 1.31% or $84.0/MT to $6306.0/MT. Aluminium prices declined 0.61% or $11.5/MT to $1863.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8144, with the AUD trading 0.15% higher from yesterday’s close.
Earlier today, data showed that Australia’s foreign exchange transaction surplus narrowed to A$337.0 million in November, following a surplus of A$389.0 million in the previous month.
Elsewhere, in China, Australia’s biggest trading partner, the house price index slid 3.7% in November, compared to a drop of 2.6% recorded in October.
The pair is expected to find support at 0.8088, and a fall through could take it to the next support level of 0.8032. The pair is expected to find its first resistance at 0.8219, and a rise through could take it to the next resistance level of 0.8294.
Trading trends in the AUD today are expected to be determined by global macroeconomic news.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
