AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD traded a tad lower against the USD to close at 0.8078.
LME Copper prices declined 0.34% or $21.0/MT to $6170.0/MT. Aluminium prices declined 0.59% or $10.5/MT to $1762.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8112, with the AUD trading 0.42% higher from yesterday’s close.
Early morning data indicated that building permits in Australia unexpectedly rose 7.5% on a MoM basis in November, following 11.5% increase registered in the prior month, while markets were expecting it to drop 3.5%.
The pair is expected to find support at 0.8057, and a fall through could take it to the next support level of 0.8002. The pair is expected to find its first resistance at 0.8142, and a rise through could take it to the next resistance level of 0.8173.
Meanwhile, investors await Australia’s AiG performance of construction index data for further cues, scheduled in the late hours today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
