AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.16% against the USD and closed at 0.7570.
LME Copper prices declined 0.2% or $12.0/MT to $5867.0/MT. Aluminium prices declined 1.1% or $21.0/MT to $1849.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7570, with the AUD trading flat against the USD from yesterday’s close.
Earlier in the session, in China, Australia’s largest trading partner, industrial profits rose 2.3% YoY in December, following a rise of 14.5% in the prior month.
The pair is expected to find support at 0.7526, and a fall through could take it to the next support level of 0.7482. The pair is expected to find its first resistance at 0.7599, and a rise through could take it to the next resistance level of 0.7628.
Amid a holiday observed in Australia today, trading trend in the AUD is expected to be determined by global macroeconomic factors.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
