AUDUSD Movement
On Friday, the AUD strengthened 0.39% against the USD to close at 0.8236.
LME Copper prices declined 1.03% or $59.0/MT to $5660.0/MT. Aluminium prices rose 0.87% or $15.5/MT to $1798.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8212, with the AUD trading 0.3% lower from Friday’s close.
Early morning data indicated that new motor vehicle sales in Australia rebounded 3.0% on a MoM basis in December, compared to a revised drop of 0.5% recorded in November.
Overnight data showed that the nation’s TD securities monthly inflation gauge dropped to 0.0% in December, following a 0.1% rise registered in the preceding month.
Over the weekend, in China, Australia’s biggest trading partner, the nation’ house price index slid 4.3% on an annual basis in December. The index had fallen 3.7% in the previous month.
The pair is expected to find support at 0.8167, and a fall through could take it to the next support level of 0.8123. The pair is expected to find its first resistance at 0.8257, and a rise through could take it to the next resistance level of 0.8302.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
