AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.30% against the USD to close at 0.8887.
The US Dollar traded on a strong footing after strong economic data added to evidence of a recovering labour market in the US.
LME Copper prices rose 0.4% or $29.0/MT to $ 7280.0/MT. Aluminium prices declined 0.5% or $8.0/MT to $ 1710.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8900, with the AUD trading 0.15% higher from yesterday’s close.
This morning, economic data from China indicated that the nation’s total profits of industrial firms during the first 11 months of 2013 climbed 13.2% to CNY5.33 trillion, compared with a growth of 13.7% in the same period last year.
The pair is expected to find support at 0.8882, and a fall through could take it to the next support level of 0.8863. The pair is expected to find its first resistance at 0.8912, and a rise through could take it to the next resistance level of 0.8923.
Trading trends in the pair today are expected to be determined by global news and developments.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
