AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.60% against the USD on Friday to close at 1.0770.
In the Asian session, at GMT0400, the pair is trading at 1.0725, with the AUD trading 0.42% lower from Friday’s close, after retail sales in Australia declined unexpectedly to -0.1% in December, from 0.0% in the preceding month.
Separately, the ANZ job advertisements survey reported that total job advertisements in Australia advanced 6.0% (MoM) to 191,423 in January, compared with a revised 0.6% drop in December.
LME Copper prices declined 0.3% or $21.3/MT to $8317.5/ MT. Aluminium prices declined 1.9% or $42.0/MT to $2158.5/ MT.
The pair is expected to find support at 1.0666, and a fall through could take it to the next support level of 1.0608. The pair is expected to find its first resistance at 1.0789, and a rise through could take it to the next resistance level of 1.0853.
Australia’s AiG Performance of Construction Index data scheduled for release today is keenly awaited.
The currency pair is trading below its 20 Hr and its 50 Hr moving averages.
