AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.43% against the USD to close at 1.0560.
LME Copper prices rose 0.6% or $47.3/MT to $8067.5/MT. Aluminium prices rose 0.4% or $8.0/MT to $2008.3/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0536, with the AUD trading 0.23% lower from yesterday’s close, as data released this morning indicated that, consumer prices in Australia climbed 0.2% (QoQ) in the Q4 FY2013, lower than the expected 0.4% rise and compared to a 1.4% rise in the Q3 FY2013. Meanwhile, the Westpac Bank/Melbourne Institute’s leading index edged up 0.6% (MoM) in November, compared to a 0.1% rise recorded in October.
Moreover, in China the Conference Board’s leading economic index rose 0.4% in December, following a 1.1% rise in November.
The pair is expected to find support at 1.0513, and a fall through could take it to the next support level of 1.0489. The pair is expected to find its first resistance at 1.0570, and a rise through could take it to the next resistance level of 1.0603.
The currency pair is trading below its 20 Hr moving average and is showing convergence with its 50 Hr moving average.
