AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.44% against the USD to close at 0.7896.
LME Copper prices declined 1.29% or $71.5/MT to $5485.5/MT. Aluminium prices rose 0.14% or $2.5/MT to $1849.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7887, with the AUD trading 0.12% lower from yesterday’s close.
Early morning data showed, that the export price index in Australia remained unchanged on a quarterly basis in 4Q 2014, compared to a drop of 3.9% registered in the prior quarter, while the nation’s import price index rebounded 0.9%, following a 0.8% decline registered in the same period respectively.
The pair is expected to find support at 0.7836, and a fall through could take it to the next support level of 0.7786. The pair is expected to find its first resistance at 0.7982, and a rise through could take it to the next resistance level of 0.8078.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
