AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.21% against the USD to close at 0.8136.
LME Copper prices declined 0.5% or $29.0/MT to $ 6332.0/MT. Aluminium prices declined 0.4% or $6.5/MT to $ 1827.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8127, with the AUD trading 0.11% lower from yesterday’s close.
Data released this morning indicated that China’s leading index registered a drop to 99.17 in China in November, as compared to a revised level of 99.37 in the previous month.
The pair is expected to find support at 0.8110, and a fall through could take it to the next support level of 0.8094. The pair is expected to find its first resistance at 0.8154, and a rise through could take it to the next resistance level of 0.8181.
The currency pair is trading below its 20 Hr moving average and is showing convergence with its 50 Hr moving average.
