AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.16% against the USD to close at 0.8166.
LME Copper prices declined 3.52% or $216.0/MT to $5915.0/MT. Aluminium prices declined 0.70% or $12.5/MT to $1766.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8093, with the AUD trading 0.9% lower from yesterday’s close.
Earlier today, data from Australia indicated that job vacancies rose 2.6% in November, compared to a 0.7% drop registered in the preceding month.
The pair is expected to find support at 0.8047, and a fall through could take it to the next support level of 0.8001. The pair is expected to find its first resistance at 0.8169, and a rise through could take it to the next resistance level of 0.8246.
Going forward, market participants await Australia’s unemployment rate data, scheduled in the early hours tomorrow, to get better insights in the nation’s economy.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
