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.
