AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.87% against the USD to close at 0.8024.
LME Copper prices declined 0.32% or $18.5/MT to $5742.0/MT. Aluminium prices rose 2.02% or $37.0/MT to $1867.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8024, with the AUD trading flat from yesterday’s close.
Earlier today, in China, Australia’s biggest trading partner, the HSBC/Markit manufacturing PMI index unexpectedly rose to a 2-month high level of 49.8 in January, higher than market expectations of a fall to 49.5. The index had recorded a level of 49.6 in the prior month.
The pair is expected to find support at 0.7966, and a fall through could take it to the next support level of 0.7909. The pair is expected to find its first resistance at 0.8109, and a rise through could take it to the next resistance level of 0.8195.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
