AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD traded a tad lower against the USD to close at 0.7810.
LME Copper prices rose 0.43% or $24.5/MT to $5690.0/MT. Aluminium prices declined 0.19% or $3.5/MT to $1797.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7834, with the AUD trading 0.3% higher from yesterday’s close.
Early morning data showed that foreign exchange transaction surplus in Australia fell to A$296.00 million in January, following a surplus of A$1081.00 million registered in the prior month.
The pair is expected to find support at 0.7790, and a fall through could take it to the next support level of 0.7746. The pair is expected to find its first resistance at 0.7862, and a rise through could take it to the next resistance level of 0.7890.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
