AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened marginally against the USD to close at 1.0382.
LME Copper prices declined 0.3% or $26.0/MT to $7704.5/MT. Aluminium prices declined 1.3% or $24.5/MT to $1927.8/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0382, with the AUD trading marginally lower from yesterday’s close.
This morning, the Markit/HSBC purchasing managers’ index in China rose to a reading of 50.4 in November, compared to a reading of 49.5 in October.
The pair is expected to find support at 1.0346, and a fall through could take it to the next support level of 1.0311. The pair is expected to find its first resistance at 1.0409, and a rise through could take it to the next resistance level of 1.0437.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
