AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 1.43% against the USD and closed at 0.6844.
LME Copper prices declined 1.4% or $86.5/MT to $6,158.5/MT. Aluminium prices rose 0.2% or $3.5/MT to $1,810.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.6842, with the AUD trading slightly lower against the USD from yesterday’s close.
Overnight data indicated that Australia’s Westpac consumer confidence index fell 1.8% to a level of 93.4 on a monthly basis in January, compared to a level of 95.1 in the previous month.
The pair is expected to find support at 0.6821, and a fall through could take it to the next support level of 0.6799. The pair is expected to find its first resistance at 0.6870, and a rise through could take it to the next resistance level of 0.6897.
Trading trends in the pair today is expected to be determined by Australia’s consumer inflation expectations for January and unemployment rate for December, slated to release overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
