AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.14% against the USD and closed at 0.7789 on Friday.
LME Copper prices declined 1.2% or $83.0/MT to $6755.0/MT. Aluminium prices rose 1.2% or $26.0/MT to $2142.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7837, with the AUD trading 0.62% higher against the USD from Friday’s close.
The pair is expected to find support at 0.7792, and a fall through could take it to the next support level of 0.7746. The pair is expected to find its first resistance at 0.786, and a rise through could take it to the next resistance level of 0.7882.
Going ahead, traders would keep a close watch on Australia’s NAB business confidence index for January, scheduled to release overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
