AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.06% against the USD to close at 0.8537, rebounding from its previous session losses.
LME Copper prices declined 0.70% or $47.0/MT to $6649.0/MT. Aluminium prices rose 0.72% or $15.0/MT to $2099.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8586, with the AUD trading 0.57% higher from yesterday’s close.
Early morning data indicated that, Australia’s HIA new home sales rose 3.0% on a monthly basis in October, following a flat reading registered in the prior month. Meanwhile, the nation’s private capital expenditure surprisingly advanced 0.2% on a quarterly basis in 3Q 2014, higher than market expectations for a drop of 1.9% and compared to a 1.6% gain recorded in the preceding quarter.
Elsewhere in China, Australia’s biggest trading partner, industrial profits retreated 2.1% on a YoY basis in October, after increasing 0.4% in the prior month.
The pair is expected to find support at 0.8514, and a fall through could take it to the next support level of 0.8442. The pair is expected to find its first resistance at 0.8624, and a rise through could take it to the next resistance level of 0.8662.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
