AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 2.06% against the USD to close at 0.6847.
LME Copper prices declined 1.26% or $55.0/MT to $4310.5/MT. Aluminium prices declined 0.71% or $10.5/MT to $1467.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.6914, with the AUD trading 0.99% higher from Friday’s close.
Over the weekend, Australia’s TD securities inflation advanced 0.2% MoM in December, following a 0.1% rise in the previous month.
Early this morning, in China, Australia’s largest trading partner, house price index climbed 1.6% in December, after a 0.9% rise in the prior month.
The pair is expected to find support at 0.6838, and a fall through could take it to the next support level of 0.6762. The pair is expected to find its first resistance at 0.6980, and a rise through could take it to the next resistance level of 0.7045.
Going ahead, market participants will look forward to China’s retail sales, industrial production and Q4 GDP data, scheduled to release in the early hours tomorrow.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
