AUD/USD: Aussie trading on a weaker footing this morning

AUDUSD

AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD rose 0.22% against the USD and closed at 0.7264.

LME Copper prices declined 1.4% or $75.5/MT to $5485.5/MT. Aluminium prices rose 0.3% or $5.5/MT to $1722.5/MT.

In the Asian session, at GMT0400, the pair is trading at 0.7253, with the AUD trading 0.15% lower against the USD from yesterday’s close.

Overnight data showed that Australia’s Westpac leading index climbed marginally on a monthly basis in November, following a revised advance of 0.1% in the prior month.

Elsewhere in China, Australia’s largest trading partner, the CB leading economic index rose 1.0% MoM in November. The index had advanced 0.8% in the previous month.

The pair is expected to find support at 0.7223, and a fall through could take it to the next support level of 0.7193. The pair is expected to find its first resistance at 0.7278, and a rise through could take it to the next resistance level of 0.7303.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

This entry was posted in AUD/USD. Bookmark the permalink.

Comments are closed.