AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.17% against the USD to close at 1.0352.
In the Asian session, at GMT0400, the pair is trading at 1.0328, with the AUD trading 0.23% lower from yesterday’s close, after reports showed that Australian trade balance surplus declined.
In Australia, this morning, the trade surplus stood at A$1.38 billion in November, compared to downwardly revised surplus of A$1.42 billion in October.
LME Copper prices declined 0.1% or $8.8/MT to $7,651.8/ MT. Aluminium prices rose 2.3% or $45.8/MT to $2,051.5/ MT.
The pair is expected to find support at 1.0297, and a fall through could take it to the next support level of 1.0266. The pair is expected to find its first resistance at 1.0367, and a rise through could take it to the next resistance level of 1.0405.
Trading trends in the pair today are expected to be determined by release of AiG Performance of Construction Index in Australia.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
