AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.29% against the USD and closed at 0.6904 on Friday.
LME Copper prices declined 0.1% or $5.5/MT to $6155.5/MT. Aluminium prices rose 0.3% or $5.0/MT to $1770.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.6905, with the AUD trading marginally higher against the USD from Friday’s close.
Overnight data showed that Australia’s private sector credit demand rose 0.1% on a monthly basis in November, less than market forecast for a rise of 0.3% and compared to a similar rise in the previous month.
The pair is expected to find support at 0.6889, and a fall through could take it to the next support level of 0.6872. The pair is expected to find its first resistance at 0.6917, and a rise through could take it to the next resistance level of 0.6928.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
